Landlords anxious to fill their empty apartments have sweetened incentives to levels unmatched in the past 15 years, with some newer buildings offering up to three months of free rent, according to the Apartment Association of Metro Denver.

The average concession is more in the three-to-four-week range, and free rent deals are being offered on properties of all age ranges, except for the most popular buildings in the most popular locations. Concessions are pushing down “effective” rents to the point that older properties with fewer amenities are having a hard time keeping their tenants from upgrading.

“This is impacting the entire market. You’re seeing basically what I would call a move-up effect, or a ladder effect, where the newer properties are offering significant concessions and tha

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