In theory. Long term vacancy is not in any corporate landlord’s plan, though. They will adjust rather than seek impossible rent forever. And aside from large apartment buildings, most residences (75% of 1-4 unit buildings) are owned by small landlords who don’t give a shit about network effects.
Corporate landlords lose more by drops in real estate price and lowering of rent averages than a handful of empty properties. They have scale.
In theory. Long term vacancy is not in any corporate landlord’s plan, though. They will adjust rather than seek impossible rent forever. And aside from large apartment buildings, most residences (75% of 1-4 unit buildings) are owned by small landlords who don’t give a shit about network effects.