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I've been negotiating with a management company to get a rent concession on an apartment in their building. I originally asked for a 1.5 month rent concession, instead they came to me with the following arrangement:

  • 1 month rent concession in the lease
  • Move in early (June 15th)
  • Lease and rent collection starts July 1

It's effectively still 1.5 month free, but the management company prefers this arrangement to giving a 1.5 month rent concession. I don't know why. Are there any red flags with this arrangement or things I should be aware of?

  • This may depend on the jurisdiction; where is it? It may also depend on what you mean by "lease starts on July 1"; are they not putting this agreement in writing? Are they requiring your deposit before you move in? – phoog May 15 '17 at 19:31
  • This is in New York City. I'm not sure on the answer to your question, but I would want it in writing if they wanted our deposit up front. – J.T May 15 '17 at 19:34
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    Aside from any legal issues, this just seems financially beneficial to them, assuming the apartment would otherwise be vacant between June 15 and July 1. Under this scheme, between now and July 1, 2018, they collect 11 months of rent from you. If you move in July 1 and they give you a 1.5 month concession, they only collect 10.5 months of rent. But if you actually need somewhere to live between June 15 and July 1, then it might be mutually beneficial. – Nate Eldredge May 15 '17 at 20:20

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