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Atypicalities and Apartment Rent Concessions

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Author Info
James R. Frew () (Economics Department Willamette University 900 State Street Salem, Oregon 97301)
G. Donald Jud () (Department of Finance University of North Carolina, Greensboro Greensboro, North Carolina 27412)
Daniel T. Winkler () (Department of Finance University of North Carolina, Greensboro Greensboro, North Carolina 27412)
Abstract

This paper examines the use and value of rental concession using a 1988 sample of apartment rents in the Greensboro/High Point/Winston-Salem (North Carolina) MSA. The first section develops an approach to the problem and the second section estimates a logit model to predict the use of concessions as a pricing strategy based on characteristics of the apartment. The third section employs a hedonic pricing model to measure the average value of rental concessions in the Greensboro market. The final section summarizes relevant findings.

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File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol05n02/v05p195.pdf
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Publisher Info
Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

Volume (Year): 5 (1990)
Issue (Month): 2 ()
Pages: 195-202
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:jre:issued:v:5:n:2:1990:p:195-202

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Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Fritz Machlup, 1955. "Characteristics and Types of Price Discrimination," NBER Chapters, in: Business Concentration and Price Policy, pages 395-438 National Bureau of Economic Research, Inc. [Downloadable!]
  2. James R. Frew & G. Donald Jud, 1988. "The Vacancy Rate and Rent Levels in the Commercial Office Market," Journal of Real Estate Research, American Real Estate Society, vol. 3(1), pages 1-8. [Downloadable!]
  3. White, Halbert, 1982. "Maximum Likelihood Estimation of Misspecified Models," Econometrica, Econometric Society, vol. 50(1), pages 1-25, January. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Marcus Allen & Ronald Rutherford & Thomas Thomson, 2009. "Residential Asking Rents and Time on the Market," The Journal of Real Estate Finance and Economics, Springer, vol. 38(4), pages 351-365, May. [Downloadable!] (restricted)
  2. Paul K. Asabere & Forrest E. Huffman, 1996. "Thoroughfares and Apartment Values," Journal of Real Estate Research, American Real Estate Society, vol. 12(1), pages 9-16. [Downloadable!]
  3. G. Donald Jud & John D. Benjamin & G. Stacy Sirmans, 1996. "What Do We Know about Apartments and Their Markets?," Journal of Real Estate Research, American Real Estate Society, vol. 11(3), pages 243-258. [Downloadable!]
  4. G. Stacy Sirmans & C.F. Sirmans & John D. Benjamin, 1990. "Rental Concessions and Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 5(1), pages 141-152. [Downloadable!]
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