Landlords Flex Concessions Amid Rising Vacancies

Renters are experiencing increased concessions from landlords due to high vacancy rates and oversupply in some markets, with nearly 44% of rental listings offering perks like rent credits or free months. Denver, Austin, Las Vegas, Nashville, and San Antonio have the highest concession rates, driven by new construction and high inventory levels, which encourage landlords to provide discounts to reduce vacancies. Many landlords, especially smaller ones, favor offering multiple months of free rent rather than waiving security deposits, which they view as too risky. These concessions are part of a broader, ongoing strategy for some properties, with over 5% of rental communities providing perks continuously over the past year.

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