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Downtown Rent Wars: Checks, Layoff Insurance Dangled

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With more and more rental units coming downtown, the competition is getting creative. First, we saw the Chapman offer layoff insurance (a rent reduction if you lose your job), and now a resident at Bunker Hill Towers reports management is dangling similar incentives. "So my building is offering people $500 incentive checks to re-sign leases, and also a 'Worry-Free' guarantee that if you lose your income, they'll let you out of your lease. (I am sure there's tons of red ink.) They're not just hurting with our absent pool...but with the rent wars going on here downtown. (Lots of free months being dangled.)" If there are worries among tenants that the building is imposing stricter requirements for renters, management at the building says that's not true. They ask for proof that you have to have three times the monthly rent, and say that's par for the course in terms of downtown units. Image via Bunker Hill Apts.
· Just in Time for Summer: Bunker Hill Towers Retrofits Pool [Curbed LA]