Real Estate
Manhattan Landlords Are Setting Records With Their Giveaways: Report
Data shows that 31 percent of new rental contracts signed in in Manhattan in January included a perk for the renters, Bloomberg reported.
NEW YORK, NY — More than 30 percent of apartment rental contracts signed in Manhattan last month came with some sort of perk, according to real estate data released to Bloomberg.
Bloomberg reported on Friday that 31 percent of rental contracts had an added incentive in January, which is the biggest share in six years, according to data that appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate released to Bloomberg. The data means that Manhattan landlords are increasingly adding in giveaways like a month of free rent to incentivize reluctant tenants.
Years of skyrocketing rents for Manhattan apartments appear to be leveling off, as more and more landlords search for ways to encourage renters to put down a deposit.
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