Rental Concessions Becoming More Common Nationwide
Zillow Group, Inc. - Class C Capital Stock (Z)
Last zillow group, inc. - class c capital stock earnings: 8/6 04:06 pm
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Source: PR Newswire
SAN FRANCISCO, Nov. 8, 2018 /PRNewswire/ -- Across the United States, the number of rental listings advertising concessions – move-in specials such as rent discounts, gift cards and free streaming services – is greater now than it was a year ago, according to a new HotPads® analysis. Nationwide, the number of rental listings on HotPads mentioning a concession has increased 15.8 percent over the past year, and rent discounts are the most common type of concession. Still, concessions are relatively rare – renters can expect to see a concession advertised in about 1 in 100 rental listings on HotPads.In Chicago, Miami and Atlanta, the number of rental listings mentioning a move-in special has more than doubled in the past year. Annual rent growth has remained flat or slowed in each of these markets since September 2017, and each of these metro areas has ramped up building for new rental units in the past few years.Move-in specials are growing the most at the high end of the rental market.
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