Joe DownsCEO & Co-Founder, Belrose Storage Group. Founder, Storage Moguls.

The Mass Exodus Myth

11 Mar 2026 · 1 min

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Joe Downs argues that landlords overestimate how many tenants will leave after small rent increases. Moving costs money and time, so most tenants stay put even when rent goes up a little.

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But first, let's address the biggest fear associated with raising rents— the fear of the mass exodus. It's a real fear, I get it, but it's usually overblown. Many owners worry that a small rent decrease will cause everyone to leave, but the reality is most tenants stay put. Moving is a huge hassle for them. We're in a sticky business. They might complain, but they rarely pack up and leave for a small increase. Think about it— paying $10 more versus spending $500 and a whole weekend to move. That doesn't usually math for people, not to mention the hassle.