I think I'd do what your landlord is doing if I were in that position.
Having a long term reliable renter, which I'm sure you are, give them a rent that is a good deal (slightly below market), and they'll stay. Even if your rent doesn't cover mortgage and expenses, eventually you or other renters are going to buy the property for your landlord, and that's worth a lot.
Especially if home prices are up 50% - keeping your rent stable and you there paying it means your landlord is getting a spectacular deal.
Agreed. It is worth mentioning that in CA my landlord is benefiting greatly from Prop 13. They bought the house a long time ago, it is almost certainly paid off by now. And due to prop 13 they have locked in absurdly low property taxes. This is a big quirk to the CA rental market. Anyone buying a property now in order to rent it out is going to see significant negative cash flow. I think AirBNB renters can squeak out a positive cashflow, but they better hope bookings don't dry up.
Having a long term reliable renter, which I'm sure you are, give them a rent that is a good deal (slightly below market), and they'll stay. Even if your rent doesn't cover mortgage and expenses, eventually you or other renters are going to buy the property for your landlord, and that's worth a lot.
Especially if home prices are up 50% - keeping your rent stable and you there paying it means your landlord is getting a spectacular deal.