You got lucky with the old owner. They gave you a sweetheart deal.
I hope your new landlord will lower your rent, when they refinance to a cheaper mortgage. (Or are only higher mortgage rates pass through? What's the difference?)
>You got lucky with the old owner. They gave you a sweetheart deal.
I shopped around and found a good deal. It including moving to a suburb with cheaper rents and still making sure I found something good.
But this is the market. Its not full of spherical cows, its full of human beings making human decisions.
I found humans who valued longevity over pure profit. This is not a unique scenario, people use rents as retirement income all the time. They wanted a consistent tenant, and the suburb I wanted to move to is famous for inconsistent tenants.
I valued low prices and outdoor space. We found a price we both agreed on. I know of other examples of this happening near where I live, it isnt unique.
Likewise, costs being passed directly to the renter, not unique.
If you live where there’s no demand and r prey houses already you can force prices down just as easily.
Mortgages prove costs aren’t passed on. A landlord with a lot gage doesn’t on the whole charge a higher rent than one without.