Rental Concessions and Property Values

G. Stacy Sirmans (), C.F. Sirmans and John D. Benjamin
Additional contact information
G. Stacy Sirmans: Department of Insurance, Real Estate and Business Law The Florida State University Tallahassee, Florida 32306, http://www.cob.fsu.edu/
C.F. Sirmans: Department of Finance Louisiana State University Baton Rouge, Louisiana 70803, http://www.finance.lsu.edu/
John D. Benjamin: Department of Insurance and Real Estate College of Business Administration Pennsylvania State University University Park, Pennsylvania 16802, http://www.smeal.psu.edu/ire/index.html

Journal of Real Estate Research, 1990, vol. 5, issue 1, 141-152

Abstract: 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.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1990
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Citations: View citations in EconPapers (5)

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