People, both individuals and businesses, are going to have to face the fact that a major devaluation of everything is going on, and are going to have to reflect their prices accordingly. Credit scores will have to be adjusted at some point since most of the country has poor credit now. The 500 score today will equate to a 600 of yesterday. No ability to pay means either sharing living space or landlords dropping prices.

I have been very fortunate. I rent out two condos and still have the original renters in there, both of which are 60-70 years old. My rents barely cover my mortgage/condo fees; however, I'm not planning to raise either rent until the housing market/economy are back to normal (whatever normal is, it's been so long)!

My experience, having backed into landlordship sort of accidentally, remains very good even in this market, which had me nervous. I have what I suppose are two sort of upper end properties so probably beyond the means of people having troubles, but I keep the rent fair, have found excellent tenants and take very good care of them. The property tax increase had me hurting since the last reassessment on my properties, but the recent interest rate reduction on my ARMs will help out a bit. I will roughly cover PITI but generally have to cover mainenance and repairs out of my own pocket. There's an odd phenomenon going on where it seems, judging by recent Craigslist ads, that landlords were asking higher rents even with the economy bad. Maybe they're in denial, or facing increased costs. Everyone's trying to pass the buck. All kinds of maintenance and repair people also seem to be raising their fees with the economy in a slump.

I'm a landlord and my units have suffered a slight reduction in rent. There are lots more rentals on the market and large complexes are offering very competitive deals such as 1 month free etc.

Tenants also seem to be more willing to ask for concessions or try to "bargain" on rent and other aspects of the lease. BTW that doesn't work, and it just annoys the landlord. You can't haggle on rent unless you've established yourself as a good tenant.

But the rent I get is still pretty good and covers the expenses related to the property. My MAJOR concern is the property tax increase in Baltimore.

I doubt landlords in Baltimore will have trouble because it is so much more economical to rent here than it is to buy.
My wife and I have been looking for a house to buy for two months (bank is foreclosing on our landord). But we're now thinking about renting instead. Even with the $8,000 incentive and low interest rates, spending $1,500 on rent seems smarter than spending $275,000 on a house, particularly with projections that property values may continue to fall in the city.
So don't fret landlords. You still are the best deal in town.