Not all concessions deliver the same impact. While “one month free” may dominate the landscape, ApartmentIQ’s Q1 2025 data shows that operators are experimenting with a broader mix of incentives—from creative lease perks to one-time bonuses.
In a softening market where renters have more options, understanding which concessions work, and where, is essential.
The Front-Runners: Monetary Incentives
Free rent remains the clear leader. The most common concession in Q1 was one month free, applied either upfront or prorated across a lease term. In more competitive metros or lease-ups, operators are extending offers to two or even three months.
Other common monetary concessions include:
- Waived application or admin fees
- Flat-rate rent discounts ($500–$1,000)
- Move-in bonuses or reduced deposits
These offers are easy for prospects to understand and calculate—and they directly impact perceived value during lease-up conversations.
Creative Concessions Are Gaining Ground
While cash and rent discounts dominate, creativity is becoming a differentiator. Operators in aggressive markets have turned to:
- Gift cards or signing bonuses
- Look-and-lease perks (e.g. sign within 48 hours, get a deal)
- Waived parking or amenity fees
- Free move-in services or professional cleanings
- Event tickets or tangible gifts like TVs and smart devices
These incentives often cost less than rent discounts, but can deliver a similar impact when targeted well.
Know What Works in Your Market
The value of a concession isn’t universal. A free month might be table stakes in one submarket and a huge differentiator in another.
With tools like ApartmentIQ you can see which concessions your comps are offering, and whether your packages stand out or blend in.
Stop guessing which incentives convert—grab the complete Concessions 2025 guide to see exactly which offers outperform in your submarket.