Have you ever offered rent concessions to entice potential renters?

[Rene Hosman]

Today, @Noah Bacon published an interested article to the blog that got me thinking - large apartment buildings often offer concessions - like first month reduced rent, or sometimes even referral programs. But it's not something I've considered as I personally manage my own small rental portfolio. In his article, Noah discusses why he thinks mom-and-pop or private landlords should NOT offer concessions and I want to hear your opinions! Have you ever offered them to entice renters? If so how did it turn out and how did you decide what to offer? Taking it one step further - have you ever been open to negotiating with prospective tenants or tenants who want to renew? ''

Check out Noah's article and his reasons why he thinks rent offers and concessions are not a good tool for private landlords here 

[Greg Scott]

Quote from @Derrick E.:

I always play it by ear. If I have a potential tenant that I like then I work with them. 

I liked the tenant, school is starting back etc, I told them they could pay first month and security deposit and I would let them have the rest of August for free.

This is an obvious fair housing law violation because you are choosing which prospect get the concession. DO NOT DO THIS. It could cost you dearly in the future.