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by latchkey 1052 days ago
I'm not talking about past, I'm talking about current and future.

"Why would a landlord lower the rent now to a small business"

now.

1 comments

as the post you responded to said:

> After a certain point, the building owner will have to choose between lowering rents, or having the building foreclosed on due to having no tenants

Except that isn't their only choices. It'll depend on their finances as well as the market futures. Many many buildings sit empty for ages for a whole bunch of different reasons. Can't just generalize into a binary like that.
given the choice between no money and money, most will choose money, and no amount of 'it depends' will change that

the fact that some people let some buildings sit empty for some time doesn't mean most will let most sit empty for most of the time

after all, the next best alternative for building owners is foreclosure or abandonment or sale at a loss, the next best alternative for businesses is 1 of a thousand different places, or just a remote workplace

> given the choice between no money and money, most will choose money

They might not have the choice. Nobody is going to rent ground floor retail space in an area with no foot traffic. It is a race to zero all around.

> Nobody is going to rent ground floor retail space in an area with no foot traffic

of course they will, at a low enough rent, obviously, which is the point: lowering rent is indeed a choice, as is going bankrupt, abandoning the property, foreclosure, or selling it at whatever price

There is a ground floor retail spot near my house with a for-rent sign on the front, that has been empty for years. People have their reasons.