This times 100. A bad tenant can cost you tens of thousands of dollars, not to mention peace of mind. I once had one who lied about owning my property to have a 60 year old tree cut down. It was a nightmare (it turned out he had sued his previous landlord in a bogus sexual harrassment and basically extorted a hundred grand from an elderly woman).
I would much rather have someone who pays less, but is financially and mentally stable. So yeah, rents will drop pretty fast once the market softens.
SF in particular is a unique market because you have one population that is hell bent on staying here, and another that is primarily here for work opportunities. The latter population will clear out pretty quick once the work starts to dry up.
I would much rather have someone who pays less, but is financially and mentally stable. So yeah, rents will drop pretty fast once the market softens.
SF in particular is a unique market because you have one population that is hell bent on staying here, and another that is primarily here for work opportunities. The latter population will clear out pretty quick once the work starts to dry up.