See how that works? You get fucking greedy and watch it blow up in your face and then you get scared. I can only imagine either Kirk Brown, Joe Yocum or someone related to either is on the El Segundo Parent’s Facebook Network.
The people have spoken and they said fuck you and your $5000/month rent.
I saw the same thing happen with the last home we moved out of. They jacked the rent when we moved in. So much that our neighbors were shocked they were able to ask so much. (I once wrote about special circumstances setting a buyer’s willingness to pay more) So when we moved out they figured they could do it again and raised it almost 7% after our ~15 months in the house. The house sat. And it sat. And then they dropped it back to our price (but we were willing to pay more because of our special circumstances). And it sat. I’m not sure where it ended up but I know that the house was vacant for four months. They lost 33% of their annual rental income because they were being greedy.
Guess Joe and Kirk got scared. I still hope people don’t want people like that as their landlord. Because you know what they will do when your lease is up?