There is an empty store on Broadway in my hometown and it has remained empty for almost a decade. When it first became vacant I called to inquire about the rent. The property owner was asking for $6,000 a month which was a little on the high end for Bayonne.

A few years later I called again to see if there was a decrease in the rent. Nope, he was still asking for $6,000. I offered $5,000. No deal. And so it remained vacant another few years.

Last year I called and offered $4,000 and the owner said, "Wait a minute aren't you the guy who offered $5,000 a few years ago?" I answered that a few years ago the economy was much better. I told him if the store remained empty for another year I might consider paying $3,000 if at all.

So this idiot has been paying real estate taxes for years and not making a single penny. And since the store is empty, he can't get as much for the property as he might like if he wished to sell it.

The truth is, years ago he should have taken almost any offer at least to help pay the taxes and pay for property maintenance. And if the tenant did well the landlord could eventually raise the rent yearly until it eventually approaches his original asking price. It is easier for a viable business to pay a large rent as opposed to a newbie who might be afraid to take a chance on signing a long lease for a lot of rent.

Idiots Do Not Know that Something is Better than Nothing

But some morons get fixated on a specific rent and would rather make nothing than accept a lower offer and make something. Perhaps it's a matter of pride. However pride has no business in business.