[freddie_mercury]

The landlord reduces the rent when a tenant moves out and they can't find a new tenant at the previous rate quickly enough.

This happens all the time.

Rents aren't based on the value of the asset. They are based on supply and demand in the rental market.

[kjkjadksj]

In a high demand market though? My landlord had like 3 tenants go over the last couple of years and they had a new one moving in that month basically to no affect on their cashflow. Whenever I applied for apartments in this town it was always tour the place and be prepared to sign a lease right there because you have no time to think before someone else bites. Maybe thats true when you have a failing local job market but that isn’t the case in high housing cost regions by definition.