More apartment operators are ditching rent concessions offers as vacancies across the country have dropped to historic lows.
The share of apartment leases containing rent discounts is at the lowest ever in RealPage’s database that goes back to the early 1990s. This comes as occupancy remains at all-time highs and available apartment units are scarce. However, there are pockets of the market bucking that trend, and they tend to be pricey geographies where discounts are deep. The result is a larger-than-average rent discount for the nation overall.
Read more...Apartment Rent Concession Utilization at All-Time Low via RealPage
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