In the midst of a historic eviction crisis, renters with the privilege of affording rent suddenly have the leverage for concessions from landlords, like free parking and other perks .
Landlords are increasingly willing to offer concessions or perks to potential tenants rather than lower rent as the pandemic impacts the rental market," reports Jacqueline Thomsen, sharing the findings of new data from Zillow.
"The survey of Zillow listings showed that 30.4% of rental listings on the service featured concessions, compared to 16.2% of listings in February and 12.5% last July," according to Thomsen.
"Those concessions can range anywhere from a month off rent, free access to a parking space or even a gift card," but these are perks, not a permanent benefit like lower rent. Analysis of the data also reveals that the rising number concessions reverses the trends that were underway previous to the pandemic.
The data also offers a geographic breakdown of the rising supply of landlord concessions. "Rents in Washington, D.C. are most likely to come across concessions, with 57.5% of Zillow listings featuring at least one perk. Charlotte comes in at second, with 53% of listings, and Austin next, with 47.1%."
FULL STORY: Landlords Increase Apartment Concessions To Draw In Tenants
How 2020 Changed the Rental Market
A new report by RentCafé reveals the extent of the pandemic's influence on the rental market—so far.
'Seriously Delinquent' Mortgages Explode, But Don't Expect a Great Recession-Style Meltdown
More and more homeowners are falling behind on mortgage payments as the pandemic lingers, according to recent market data.
Big Investors Cornering the Canadian Rental Market
What's good for pension funds and real estate investment trusts is likely bad for renters.
San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.
Has President Trump Met His Match?
Doug Ford, the no-nonsense premier of Canada's most populous province, Ontario, is taking on Trump where it hurts — making American energy more expensive.
Study: London ULEZ Rapidly Cleaning up Air Pollution
Expanding the city’s ultra low-emission zone has resulted in dramatic drops in particle emissions in inner and outer London.
The Unseen Aftermath: Wildfires’ Lasting Health and Emotional Burden
Wildfires in Los Angeles not only pose immediate physical health risks but also lead to long-term respiratory problems and mental health struggles, underscoring the need for a coordinated public health response to mitigate their lasting effects.
Public Parks as Climate Resilience Tools
Designed with green infrastructure, parks can mitigate flooding, reduce urban heat, and enhance climate resilience, offering cost-effective solutions to environmental challenges while benefiting communities.
What the Proposed Federal Budget Means for Transit, Rail
The proposed FY 2025 budget keeps spending for public transit and passenger rail essentially the same as in 2024.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Resource Assistance for Rural Environments
City of Edmonds
City of Grandview
Harvard GSD Executive Education
UCLA Lewis Center for Regional Policy Studies
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research