0%. Rent when established is the rent for the unit in perpetuity.
Decide to rent? You get to rent it out until it’s no longer worth it, then it becomes owner occupied forever or torn down for high density housing. Sounds great to me!
“This would never work!1111oneoneone” - my last apartment was $1425 when I moved in and $1500 after I moved out 10 years later. If they rent it out again as-is it would be all of $1800 at most… but they could still make money at $1425/mo, or even less, after water/insurance/property taxes and income tax.
0%. Rent when established is the rent for the unit in perpetuity.
Decide to rent? You get to rent it out until it’s no longer worth it, then it becomes owner occupied forever or torn down for high density housing. Sounds great to me!
“This would never work!1111oneoneone” - my last apartment was $1425 when I moved in and $1500 after I moved out 10 years later. If they rent it out again as-is it would be all of $1800 at most… but they could still make money at $1425/mo, or even less, after water/insurance/property taxes and income tax.