Unpopular take on paying commercial rent in Detroit early

Last month I was up at the Russell Industrial Center and paid my November rent 2 weeks early because the landlord offered a 5% discount. My buddy said I was an idiot tying up cash flow, but I saved $187 on a $3,740 lease. That money went straight into buying a restroom demo saw I needed. Anyone else find the discount worth the squeeze or am I missing something?

3 comments

3 Comments

beth_hart681mo ago

I heard some landlords are offering bigger discounts now to avoid vacancies in Detroit.

alices1613d ago

My buddy's cousin owns a few rentals out in Southwest Detroit and he told me last week he's practically begging people to sign leases now. He dropped rent by $200 on a two bedroom near Vernor and still can't get anyone to bite. Used to be you'd have people lined up for that area.

nina_clark1mo ago

Oh for sure, I just signed a lease renewal last month and my landlord knocked off a solid $150 a month without me even asking! It's wild how fast the market shifted around here (I'm over near Midtown). My neighbor down the hall got two months free just for signing a new lease, which I've never seen before in Detroit. Definitely feels like landlords are getting nervous about all those empty units piling up.