Feb 10, 2025 - Real Estate
Luring in renters
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A larger share of San Diego-area rental listings in 2024 offered concessions — like a free month of rent, waived application and pet fees, free parking, utility discounts, or event gift cards, according to a new Zillow report.
The big picture: The multifamily construction boom is driving the trend nationwide as renters have plenty of apartment options, according to Zillow economist Kara Ng.
Zoom in: Locally, the concession-driven market follows a steep run up in rents that far outpaced wages for local renters, The Union-Tribune reported.
- As people struggle to afford apartments, landlords are offering these deals to get them in the door.