A Rent Concessionis a temporary incentive offered by landlords to attract or retain tenants, often through benefits like free rent, reduced payments, or waived fees. These concessions help make a lease more affordable upfront without permanently lowering the listed rent. They are commonly used in competitive markets to fill vacancies quickly while maintaining long-term property value. Understanding how rent concessions work and ensuring all terms are clearly documented can help tenants and landlords avoid misunderstandings and protect their financial interests.