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by refurb
2474 days ago
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I know a few landlords and that’s exactly what’s happening. I’m not sure why you find it hard to believe. When you have a 3 unit building and everyone is paying less than 1/3 the market rate, it’s not worthwhile in the least for a landlord to fix up the building beyond the absolute minimum. Contractor rates have skyrocketed in SF, so even just repainting the building might cost $15k, which might represent several years of profit. |
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