Property Management
What is a 'rent concession' and why might a Delaware landlord offer one?
AA rent reduction granted by a tenant to the landlord for property improvements
BA reduction or waiver of rent (such as one month free) offered by a landlord to attract tenants in a competitive market or to retain existing tenants at lease renewal✓ Correct
CA government rent subsidy paid to landlords in Delaware
DA penalty assessed to tenants who pay rent late
Explanation
A rent concession is a benefit offered to tenants — typically free rent for a period, reduced rent for initial months, or move-in incentives — to attract tenants in soft markets or retain existing tenants. While the stated rent remains the same (preserving comparables), the effective rent is reduced.
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