Vacancies have a way of making landlords uncomfortable. Each day a unit stays vacant, pressure increases. You get the urge to “do something,” to recover your source of income. One of the solutions landlords go for is rent concessions. But do rent concessions work? The answer is yes, sometimes they do, but only when they […]
Tag Archives: rent concessions
13
May
May
Avoiding vacancy and retaining tenants in a competitive market is sometimes an uphill battle. Although moving is expensive, it is not always enough to deter tenants from leaving for a perceived better deal. Many multi-family rental owners are familiar with the term “rental concession” as a tool to make their property stand out from the […]
20
Apr
Apr
Rental concession and incentives in Harford County can be a great way to entice new tenants and lower vacancy rates. Incentives are particularly worthwhile if a vacant unit has been sitting too long and you’re looking to rent quickly. Incentives can include; free rent, lowered rent cost, reduced fees, and additional amenities. Each concession option […]