Apartments not giving concessions

A report says the Baton Rouge apartment market is still strong, as properties are still stingy with offering discounts, such as free rent. Apartment Realty Advisors, a brokerage firm, says that of the more than 5,600 units it surveyed recently, the average concession was two free weeks of rent. Apartment Realty says that managers were more likely to give concessions for units that had a higher than average number of vacancies, such as three bedroom apartments. The occupancy rate in the units surveyed by Apartment Realty was 92%, while the average rent was $1,009 per unit, or just over a dollar per square foot. Apartment Realty confined the survey to properties built since 1995.