Real Estate /
Poland's apartment prices continue to fall [1844]
The owner of the house I lived in has refused to bulge from her 27 000 pln and guess what, after 8 months, she still has no tenant. So, who was right?
You are both right Bullfrog: You because you wanted to find a tenant and get some income and did not mind lowering the rent and your former lanlord who prefers to have her house empty ,does not care about income ,rather than lower her rent.
She might have her reasons you know.
There are millions of people who own places everywhere in Paris in London in NY and if they have spent a lot of money decorating and refurbishing those places(Bulthaup Kitchens, Designer's furniture etc) and are attached to their places they want to find the tenant who can afford the price they want for it or just leave the place empty for months or years .
I have italian friends who have a house in Florence Italy which has not been rented for 2 years now because she says the rent they want is too high for the local market but they don't want to lower it because their property is luxurious, the value of their fitted kitchen itself would be worth several years of rent. He does not care for he is the president of an international company in France, so they target specific tenants with specific profiles.
Now if your choice was to have a tenant for your house at any cost then your choice was right but i know of a Polish owner in Kazimierz Krakow who still has his flat for rent on the market after a year( through a Real Estate agent) and who has been turning down lower offers from potential tenants.The place is a bit over 2000 zl so over 10 times lower than yours but still he does not mind waiting,does not have any morgage and his yearly czynsz slighly over 1 month rent.
I think it can also be a question of scale, leaving without tenants a place worth 24 0000 zl per month empty is not the same as leaving emptya place worth 2000 zl a month !
