Those dropping rates are probably exacerbated by students not wanting to sign leases if they’re not going to have classes or if they’ll be Yes Hes Hiking No I Dont Know When Hell Be Home shirt. I’m surprised the rent for your apartment went down though, since I’d expect a landlord to, at their most generous, keep your rent where it’s at, since you’re presumably still paying it in full and on time. In practice, I’d almost expect your rent to increase, since you’re a reliable source of income, to help offset the uncertainty of rent income from other tenants. My rent went up $15 in 2020…not outrageous, but still more than inflation/cost of living. I think that one was coming either way, but in the 3 years I’ve been here, my rent increase 0/10/15, and I’m interested to see what happens on my next extension.
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I’ll likely be reupping either way, as it’s still a great price for the location and the Yes Hes Hiking No I Dont Know When Hell Be Home shirt, but I’m hoping he holds prices this year. If the trend continues though, and rent jumps another 20 or more, while I’ll still go for it for at least one more year, I’ll be low key looking around…and trying to press my workplace for answers on post pandemic work. If they’re leaning toward a 100% work-from-home, or even a 80-90% (1-2 days in the office every 2 weeks), I would even consider moving back to my hometown. I could do the commute those few days, and in exchange, my parents own my late grandmother’s house that’s currently empty… I’d buy it from them in a heartbeat.