While concessions are still available--particularly in new, larger buildings with a significant number of apartments to rent--we have noticed over the past few months that landlords seem increasingly reluctant to widely advertise this fact. Some, such as Rockrose, make information about free rent available on their own websites, but on a property-by-property basis. Others do not make it readily available at all.
One such example is our No-Fee Apartment of the Week at the Greystone. The uneven rent of $3,963 implies either a net effective rent amount or rent stabilization, but there is no mention of either on the building's official website or the StreetEasy.com listing for the apartment. Further sleuthing on no-fee apartment rental site UrbanEdgeNY.com reveals that the building is indeed offering one-month free on selected units.
At Columbus Square (808 Columbus Ave. in the West 90s), which on StreetEasy.com is offering a studio for $2,700 "net effective rent," there is no indication of what concession is being offered. A trip to the building's website does not provide any clarification: When clicking on "weekly specials," a pop-up merely indicates that open houses are being held on the weekend. It appears as though the landlord is providing one or two months free rent, but it is impossible to tell the exact details.
Our advice to prospective renters: Call landlords for current offerings, and frequently. With so little transparency available in the search process, it pays to be extra diligent when you're looking for a deal.
Find Your Next Home
Concession Alert! rounds up some of the latest rental concessions offered by NYC landlords. But it's not the only place to find deals. To search for rental concessions on StreetEasy.com, click on "advanced search," check the box "description includes" and type in the words "free rent." For tips on how to find a no-fee apartment, check out our Guerrilla Guide series.