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They tend to just keep increasing it until you leave then just dial it back a little and get someone else in. Far worse than individual landlord that if you're a good easy tenant is gonna prefer you to an unknown, corporate don't care about that.

Yep. This was exactly my experience. You have to leave eventually just to keep monthly rent under control.

Sounds exactly like car insurance. If you don't "move around", they keep pricing it higher every year until you wake up...

the property can always be sold to a new owner that has a different use in mind.

Another drawback, you're likely to have less negotiating power with a corporate-owned rental.

There's not much else a new owner is going to do with an apartment complex other than continue to rent out the units, other than possibly tear it down and rebuild if it's very old.

You lease remains in force even with a change in ownership. So in most cases there will be no immediate impact to tenants.

If you stay long enough, you might be forced to move to another unit for a renovation.