Rental Concession
Definition of "Rental concession"
Reduction in the normal rental charge to attract prospective tenants or keep existing tenants at lease renewal. Discounts may be given to obtain a higher occupancy rate, make it easier of the owner to derive bank financing, induce a large retailer to relocate, or stimulate a longer term lease with the tenant. A concession may also be in the form of one extra month of rental free for every two years. The property's value is worth less because the rental income base is lower.
Popular Real Estate Terms
Percentage of rentals estimated not to be made because of actual and anticipated vacancies. ...
property that has been segregated into parts. ...
Person who dies leaving a will specifying the distribution of the estate. ...
Written proposals and acceptances applicable to the aspects of the transaction. The escrow agent must follow the purchase and sale agreement. ...
Individually owned lots and houses with community ownership of common areas. ...
Tenant breaks the lease because the landlord does not keep the premises habitable. ...
The right to demand that title be conveyed upon payment of the purchase price. ...
Same as term junior mortgage: Mortgage placed on a property after a previous mortgage. It can be a second, third, etc. mortgage. A junior mortgage is subordinate to the terms of a previous ...
See savings and loan association. ...
Have a question or comment?
We're here to help.