Average asking rents in Los Angeles rose 0.4 percent on a per-square-foot basis in February, following 0.2 percent growth in January, reversing the four-month decline, CoStar News reported.
Spurred by modest renter demand, local property managers relied more heavily in recent months on concessions, according to CoStar. Some 27 percent of multifamily properties with more than 25 units offered concessions last month the city's highest percentage since the first half of 2021.
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