● Tool 03 · Concession Cost
Concessions look cheap. Annualized, they aren't.
One month free feels like a small give. Spread across a portfolio, it's a permanent rent cut — and it's baked into your renewals. See the real number.
● Concession Cost
"One month free" is a rent cut you've already agreed to.
It doesn't feel like a discount at signing — it feels like a marketing spend. Annualized across the portfolio, it's a permanent haircut on effective rent and the anchor for every future renewal.
Inputs
Model your concession
Annualized giveaway
$74,000
That's what you're transferring to residents each year across 40 units — before it compresses your renewal base and softens the next trade-out. A face-rent increase of +9.1% recovers the same revenue without setting a lower anchor.
Effective rent
$1,696
▼ −8.3%
Discount
−8.3%
Monthly gap
$154
▼ per unit / mo
Breakeven bump
+9.1%
▲ same $, no cut
Effective discount vs. face rent
8.3%
Effective discount
We'll model it on your actual pricing · 15 minutes
● The Cost of Waiting
The empty units don't fill themselves. Every day you wait is revenue you don't get back.
Fifteen minutes tells you where your occupancy is leaking and what it's worth to fix. No obligation, no pitch.
Illustrative: a 200-unit asset at 88% is leaking roughly $36,000/mo.
We'll tell you if we can help — or if you don't need us.