What housing market crisis? There are some apartment complexes in Dallas just giving units away!
If you're planning to move soon, you need to check your local apartment listings because some landlords are offering major concessions to fill empty units they may have.
According to the Dallas Morning News, almost 46% of Dallas-area apartment properties were offering as much as two free months of rent just to fill empty spaces in their properties. That's higher than the national average of 30% of concession rates across the country.
Per data from Zillow, the share of Dallas rental properties with freebies jumped from about 30% a year ago to 45.9% last month.
Zillow researcher Anushna Prakash said in the report, "the pandemic era's increase in concessions was a direct response to decreased renter demand. Currently, we're witnessing a different scenario where the demand for rental housing is high, but there's been a notable rise in supply.
"To differentiate themselves from newer, potentially more amenity-rich apartment buildings, property managers are stepping up their game, offering more incentives to attract potential renters with a broader range of choice."
Reportedly, more than 26,000 North Texas apartments are being added this year, the most of any U.S. metro area. Across the nation, a record 400,000 additional rental units are opening.
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