A special is one number, not the answer
Three numbers decide which lease is cheaper, and the special is only one of them:
- Effective rent after the concession, on a daily rate
- The community fees, which no concession touches
- The clawback, which decides if you owe the free rent back when you leave early
A headline special that wins on the first and loses on the second can be a worse deal. Listings don't show you the community fees, either. Move-in specials only make sense when you read all three together.
Cash rebate versus lower effective rent
Some properties and some locators offer a flat cash rebate. It's an easy comparison to get wrong: one number is big and paid up front, and the other is small and comes every month.
$1,500 rent, 12 month lease. Two paths:
| Rebate path | Concession path | |
|---|---|---|
| Offer | $400 cash rebate | Six weeks free |
| Value | $400, once | $2,071 across the lease |
| Effective monthly | $1,467 | $1,327 |
| Total over 12 months | $17,600 | $15,929 |
The concession path wins by $1,671 here. It won't always. Put a small concession against a large rebate, and it goes the other way. Either way, compare the totals over the full lease, not one headline against another. Converting the offer on a daily rate is the step that lets you compare the totals.
Then count the clawback risk. It applies to the concession, not the rebate.
Where community fees change the comparison
Two buildings, both quoting $1,500, one with six weeks free:
| Line | Building A (concession) | Building B (no concession) |
|---|---|---|
| Effective rent | $1,327 | $1,500 |
| Amenity | $50 | $0 |
| Parking | $125 | Included |
| Valet trash | $35 | $25 |
| Bulk internet | $85 | $0 |
| RUBS estimate | $55 | $45 |
| Total monthly | $1,677 | $1,570 |
Building A has the special. Building B is $107 a month cheaper, $1,284 over the year.
It's a common way to overpay in Dallas and still think you got a deal. That's why we built the true monthly cost page.
When the special really is the deal
The concession is large, and the community fees are close to what your other options charge. The clawback is prorated, not full repayment. You know you'll finish the lease. When all four hold, the special is a real win.
Then ask about renewal
Concessions apply to year one. At month thirteen, Building A may go back to $1,500 plus a market increase, and Building B may renew close to flat. Over two years, the winner can flip again.
Ask both buildings what the unit renewed at last year. That one number tells you a lot about year two.
How to run it in five minutes
- Turn each concession into a daily rate and get effective monthly rent.
- Ask each building for its full fee schedule.
- Add the community fees to the effective rent.
- Ask the clawback question on any offer with a concession.
- Ask the renewal question on all of them.
Our net effective rent calculator handles step one. For the rest, see move-in specials. If a special still looks off after all five steps, send it over for a second look.