According to a news report released Tuesday, even though rent prices have decreased the bad economy has caused renters to vacate their apartments in the largest numbers in more than 20 years.
With unemployment sky high, and many potential renters yanked out of the market by the first-time buyer credit, landlords are doing everything they can to keep tenants. Given the current climate, renters can drive a strong bargain. Concessions range from discounted rent (four and five months free rent in some cases!) to free gym memberships, painting and interior design upgrades. Some landlords are even promising not to raise the rent after a one-year lease expires.
Marcus & Millichap, a national brokerage, produced the below list that shows which markets are offering the largest average “free months rent” concessions. Atlanta tops that list, with an average offer of 1.5 months of free rent, followed closely by Denver, Charlotte, Austin and Phoenix.
At WilliamPaid we think perks are great (haven’t you heard about our Free Rent Sweeps?). However, just because landlords are making promises to make your renting experience easier doesn’t mean your renting experience WILL be easier. Do your research. What’s the neighborhood like? Who are my neighbors? What kind of rules does the landlord have in place?
The last thing you need is to get pulled into a good deal only to discover that the apartment or house is not that great, and the landlord is not very nice. Always remember, if its free rent you’re after, we have a bit of expertise in that area Click Here to Enter
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Any tips for knowing if you are getting a good deal?
Hi KJ. We will try to address this in an upcoming blog post. In the meantime, do you have any tips you would like to share. We welcome them!