Rental Concessions and Property Values
This paper examines apartment rental concessions and their effect on property values through apartment rent and occupancy rates. A simultaneous equation model is used to estimate rent and occupancy equations in linear, semilog, and logged form. The results show that rental concessions have a positive effect on both rent and occupancy rates. This would indicate that concessions have a positive effect on property values since higher capitalized value should follow. The results also reveal that various amenities and services provided by apartment units have significant effects on rent.
Volume (Year): 5 (1990)
Issue (Month): 1 ()
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- James R. Frew & G. Donald Jud & Daniel T. Winkler, 1990. "Atypicalities and Apartment Rent Concessions," Journal of Real Estate Research, American Real Estate Society, vol. 5(2), pages 195-202.
- Richard V. Butler, 1982. "The Specification of Hedonic Indexes for Urban Housing," Land Economics, University of Wisconsin Press, vol. 58(1), pages 96-108.
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