The REIT is offering, through the Florida Department of Education, monthly rent discounts to teachers of 10%; $100 off move-in costs; waiver of the $40 rental application fee; and is giving prospective home-buyers $500 credit on home purchases.
On an $800-a-month unit, for example, the aggregate discounts could total $1,100 a year, Equity estimates. The company's average monthly rent is $650 in 31,000 units located in Orlando, Daytona Beach, Gainesville, Jacksonville, Tampa, Fort Myers, West Palm Beach, Fort Lauderdale and Miami.
Through a spokesperson, Florida Education Commissioner Charlie Crist called Equity's offer an example of good corporate citizenship. Equity officials couldn't be reached at GlobeSt.com's publication deadline to learn why the offer was made at this time.
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