Landlords Dangle Freebies as Rental Market Cools

As the rental market slows, landlords in major U.S. cities are getting creative to attract tenants. Over half of rental listings in these urban hotspots now come with enticing “sweeteners,” like free parking, a month of rent on the house, or waived pet fees. With vacancy rates creeping up and competition for renters increasing, landlords are offering perks that were unheard of during the recent housing boom.

This trend marks a significant shift in the rental landscape, where tenants once had little bargaining power. Now, with demand cooling, renters are finding themselves in a stronger position to negotiate extras that can make city living more affordable. These incentives signal a market adjusting to new realities, where landlords must go the extra mile to fill their properties and tenants can enjoy the benefits of a softened market.