In competitive rental markets, landlords may offer incentives to attract or retain tenants, commonly known as a Rent Concession. This concession can take many forms, such as reduced rent for a set period, waived fees, or free amenities. While appealing to tenants, it also helps landlords secure stable occupancy and minimize vacancies. Understanding the terms of a rent concession is crucial, as conditions may apply and affect the overall cost of leasing. Both tenants and landlords benefit from knowing their rights and obligations when negotiating or accepting these financial incentives.