what is a concession fee when applied to an apartment lease?

Question

What is a concession fee in the context of an apartment lease? 
I received my renewal letter, which states: "Your renewal rate for a 6-9 month lease will be $XXXX. This amount includes the market rate of $XXXX minus a monthly concession of $XXXX." Could you please explain what the concession fee entails and how it affects my overall lease agreement?

Anonymous · Accepted Answer

A concession is when the landlord offers a reduction in the amount of the rent as a promotion to obtain new tenants and keep current tenants.  One or two months free rent is a popular concession.

Anonymous · Answer

Concession Fee

Armani Hane · Answer

Concession Fee Recovery

Anonymous · Answer

This Site Might Help You.RE:what is a concession fee when applied to an apartment lease?My renewal letter has the following stated.Your renewal rate for a 6-9 month lease will be $XXXX. This amount includes the market rate of $XXXX minus a monthly concession of $XXXX.

Anonymous · Answer

Nope. If it’s not in the lease, they can’t charge it. But, if you are taking advantage of an amenity that is not in the lease, like dropping off your rent check in the office instead of mailing it to a P.O. Box, then the charge would be permitted for that service. But they would have to give you the option of paying only the amounts and charges specified in the lease. So, the answer depends on what you are consuming at the property and if everything you use or do is covered in the lease as well. Good Luck!

Anonymous · Answer

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re read lease carefully . file class action lawsuit .

Rodrigo Hermiston

what is a concession fee when applied to an apartment lease?

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