Rental incentives to tenants

[Andrew Lawrence]

In what situations would you give an incentive to a tenant to occupy your unit? Some suggestions I've heard were if the market was a little soft to include the first month's rent free to get more applicants, etc.

Another way I've wondered how to apply incentives is through a podcast that described a method of building lasting relationships with nearby big local employers in the hopes that they refer their employees to live at your property. But it didn't go into detail on how you would do that. So my thought was to give a 1st month's rent free for employees of ABC company, but what if the rental market softens and everybody is offering 1st month free, then it wouldn't be much of an incentive anymore. Thoughts or ideas?

Thanks

[Sam L.]

If you need to offer the first month free I'd seriously rethink your market.The only incentive I give is a nice, clean, well taken care of building at a fair price...