MOSCOW: Before the coronavirus pandemic hit Russia, pensioner Elena rented out her one-bedroom apartment in the Moscow suburbs to help make ends meet.
The 18,000-rouble monthly rent, nearly $240 at the current exchange rate, provided her with almost as much income as her retirement benefits.
But when restrictions to curb COVID-19 started taking a toll on the economy, Elena’s tenants suffered a drop in income and asked her to reduce the rent to 10,000 roubles ($132). In June, they moved out and went back to their hometown outside Moscow.
“We’ve lowered the price to 16,000 roubles, we’ve been publishing the ad for three months and still can’t let this flat,” said Elena, who is 56. “Potential tenants say it is still too pricey even though that’s the average price. Demand has dropped, we don’t get many…