What is concessions?
Incentives offered to attract or retain tenants: free rent, move-in credits, reduced deposits, waived fees, or tenant improvement allowances. One month free on a 12-month lease cuts effective annual rent by 8.3%.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.