Landlord AvalonBay woos tenants by hiking rent concessions
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San Francisco
APARTMENT landlord AvalonBay Communities Inc gave renters concessions worth US$300,000 in the second quarter, four times more than in the same period a year earlier, as enticements to sign leases.
The sweeteners, in the form of free months of rent, were greatest in New York, Northern California and New England, chief operating officer Sean Breslin said on a call on Tuesday to discuss earnings.
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