What are rent concessions typically in the form of?

Rent concessions are commonly structured as forms of temporary financial relief offered to tenants. In this context, free rent or extra allowances serve as incentives to attract tenants or retain current ones, particularly during periods of high vacancy or in competitive markets. These concessions can take the shape of a specified number of months without rent payment or additional allowances for tenant improvements, making the overall leasing arrangement more appealing.

This approach allows landlords to incentivize occupancy without altering the base rental rates, which can preserve the property's market value. Additionally, these concessions are typically time-limited and strategically designed to benefit both parties: landlords fill vacant units, while tenants receive immediate financial flexibility.