Why we won’t negotiate asking rents

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“I know you’re asking $2500 / month. But I really like this apartment and I can only pay $2000. Can we make a deal?”

“Sure. You know what? We searched high and low for months to buy this building, risked millions of dollars to buy and renovate it, spent 12 months of our lives on it. And we’re very happy to light $72,000 of the profit on fire, just because you asked.”

A $500 rent decrease isn’t $500. It’s $500 x 12 months x 12GRM = $72,000 in asset value.

So, no, we will not give you a $500 / month break on the rent.

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