Now that concerns about the economy and fears of a recession have exacerbated the usual fall slowdown, landlords are seeing fewer applicants than expected for vacant apartments.

As a result, some are again offering free services to attract renters to sign leases to fill vacant apartments.

Trend-wise, this is still a small trend. The incentives have not returned to the levels seen this time last year.

But it could be a glimmer of hope for renters in what is still a tough rental market.

According to a new report from StreetEasy, "the percentage of rental listings offering at least one month of rent-free deals rose to 11.5 percent in October, rebounding from a seven-year low of 6.8 percent in July."

StreetMarketasy found that rents remained stubbornly high overall, but slightly more landlords cut asking rents in October compared to September.

The percentage of listings cutting rents rose to 18.5 percent in October from 17.6 percent in September, the highest since the pandemic.

Concessions were much more generous this time last year.

According to Elliman's report on rentals in Manhattan, Brooklyn and Queens, the percentage of Manhattan rentals with concessions in October 2021 was 31.5 percent.

In Brooklyn and Queens, the percentage is even higher (34.1 percent and 36.9 percent, respectively).

You're definitely going to see concessions come back on the market," Adler said. Such discounts are important considering that "when you give a free month, you're basically lowering the rent by 8%.

In an interview with Brick Underground, Rahmanian said that "the rental market has dropped [activity] in the last 30 to 45 days faster than some brokers and landlords had predicted."

The reason for slower-than-usual leasing activity, he said, is the economy." People are fearful of the looming recession and they are more conservative about how they spend their rents."

Rahmanian said tenants looking now may encounter a month free, but longer leases, such as 16-18 months, so landlords can move into the summer cycle, which means leases that end during busy rental periods. (At the height of a pandemic, when the rental market is stagnant, landlords offer multiple months free on standard lease terms.)

Don't expect to find deals anywhere. Traditionally, deals are found in luxury/new developments, or in buildings that are difficult to rent for one reason or another.

Rahmanian recommends taking advantage of the current rental market, where rents are slightly below their peak three months ago.

He says, "If you are open to long-term leasing going into the summer cycle, you will have more room to negotiate rents." He cautions that "this slowdown is very temporary."

He expects rents to rise again in March, when the spring cycle begins, due to limited supply." He said, "There is not enough supply in New York City at this time, nor is there any supply under construction.

Note also that if you put off your search until the winter to get a better deal, when leasing activity typically stalls and could be worse this year for economic reasons, you could be taking a risk.