SALT LAKE CITY — Rents are down in the Salt Lake City market. To such an extent, renters are being offered incentives to move in.
After four years of record supply and double-digit rent growth, now there is a glut, leading to competition, heavy concessions and an average drop in rents of 8.25%.
Paul Smith of the Rental Housing Association of Utah said potential tenants are being offered deals, including vacations and gift cards worth thousands of dollars…