Reno ranked for apartment concession-related deals
Reno ranked 8th in the nation for apartment concession-related deals, according to data just release by the site Zumper.
In cities across the country, the rapid new apartment construction boom of the past five years has begun to create a housing glut. Landlords, faced with higher vacancy rates, are now looking to attract new tenants any way they can – many times through flexible lease terms, offers of free rent, and other concessions.
Zumper, a nationwide online apartment listing service, examined a sample of over 200,000 listings from Zumper’s active inventory in December 2017 to pinpoint the best markets for renters in America.
Listings and buildings offering deals such as free rent, reduced security deposits, gift cards, Netflix/cable subscriptions, and even Uber credit were considered. That was weighed next to the total percentage of “concession listings” relative to the total amount of inventory in each city.
Reno had a percentage of 3.08 of concession-related deals. By comparison, Winston-Salem, N.C. topped the list at 6.81 percent.
For a full report, go online at: https://www.zumper.com/blog/2017/12/the-25-cities-with-the-most-apartment-deals/.
Jacob Warwick, CEO of Discover Podium, says the company that launched only a year ago in Reno recently surpassed $1 million in revenue and has big plans for growth in the coming months.