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What is Rent Concession in New York? - Peter Zinkovetsky
From Avenue Law Firm - What Is Rent Concession in New York? breaks down how rent concessions work in Manhattan and across New York City, including free rent, reduced rates, waived fees, utility and amenity incentives, and the difference between gross rent and net effective rent. This episode explains why a concession can lower the total cost of a lease without necessarily changing the gross rent stated in the agreement, and why that distinction matters when renewal time comes around.
The conversation also explores how rent concessions intersect with rent stabilization, rent control…
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