The Beacon Hill rental market is all about concessions and more concessions. Which makes it more favorable for renters (more available units than demand to fill these units), landlords may offer concessions to entice renters to pick their property.
Beacon Hill Apartments and the Pandemic
The pandemic combined with historically low-interest rates and work from home mandates fueled the path to homeownership for Millennials in the downtown Boston real estate market. A perfect storm was created as renters became buyers and also choosing the suburbs.
Beacon Hill Lower Rents
Despite significant Beacon Hill apartment rent decreases the over-supply of available units make this a renter’s market. Currently even these lower prices aren’t luring an abundance of renters to sign leases.
Boston Real Estate and the Bottom Line
Some of the most common concessions include a month of free rent, which is likely prorated and offered as a discount each month, access to luxury amenities at a reduced or no charge, reduced security deposits, longer or shorter lease terms, free parking or upgraded features.
Today’s Beacon Hill Apartment Picks
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