Marcus manages 12 apartments and renewed leases at the same rent for two years, afraid of vacancies. Market data showed his tenants had nowhere else to go: homeownership was unaffordable and competing buildings were full. He had more leverage than he realized.
Let me give you an example. I worked with an owner named Marcus who has a 12-unit building. For 2 years, he had been renewing leases flat because the market felt soft and he was worried about vacancies. When we looked at the data together, he realized something. His tenants were not leaving because they had nowhere better to go. Homeownership was not an option for most of them, and competing buildings in his area were filling up. He had more leverage than he thought.
