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We’ve been renting out a one-bedroom garden apartment in Prospect Heights for $1850 for the past year. We’re asking our tenant to sign a new lease, but she says that the market is down and wants a reduction in rent.
By how much would you say the market has decreased in the last 12 months? In other words, what’s a fair rent this year for something that went for $1850 last summer?
Thank you!