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Updated about 4 years ago,
Trick me to leasing concessions
Hey,
What are some tricks to leasing concessions without having a negative impact when time to place long term financing?
I have a project that’ll be finishing construction soon and ready to lease and I am in the off season. Once the property is leased I’ll be refinancing out of my construction loan into a permanent long term loan.
I If I did a concession with one month free with a 13 month lease won’t a long term lender factor that in? Or maybe not? Are there any tricks to this? Maybe instead of having a month free perhaps provide them with a gift card equal to a months rent?
If I end up having to provide a concession I don’t want to be blindsided when placing the long term financing.
These properties are in Philadelphia
Thanks!