(San Francisco, CA) -- More and more landlords in San Francisco are offering tenants of rent-controlled apartments thousands of dollars to move out.
The San Francisco Tenants Union reports cash buyout offers are increasing, both in numbers and dollar amounts. The union says, for years, one or two renters a year received buyouts. The organization says it now gets word of 25 to 30 a month.
The Tenants Union says some buyouts have been for only a few thousand dollars and other landlords have paid renters more than $40,000 dollars. Controlled rents in San Francisco can be more than a thousand dollars per month below San Francisco's sky high market rates.