Landlords In New York City Offer Perks To Fill Vacant Apartments

February 13, 2017

More than 30 percent of new rental leases in Manhattan and Brooklyn have giveaways such as free rent or brand-new appliances.

Business Insider reports that landlords are granting concessions in order to fill empty apartments. Roughly 18 percent of all leases in Brooklyn have built-in perks.

The median net effective rent in Manhattan — which factors in concessions — slipped year-over-year by 0.1% to $3,369, while the number of new leases signed dropped by 5% to about 3,200. Both the number of days on the market and the listing inventory were higher, suggesting that landlords had a harder time filling up vacant apartments.

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