Here’s an offer no trendy young Angeleno can refuse — free Erehwon smoothies.

That’s the bet being made by developers of The Mercer, a new luxury apartment house in the heart of West Hollywood — where leasing agents are attempting to lure renters into high-priced pads by giving away $2,500 house credits at the influencer-loved upscale grocery store, which recently opened a location just up the street.

Sound generous? That’s a fraction of what residents pay to live in the gleaming, 17-unit building — where listings start at $6,995 a month for a two-bed and go up to $9,995 for the penthouse, with floor to ceiling windows and private outdoor spaces.

Los Angeles in 2026 is eye-wateringly expensive, that’s no secret — but for anyone with a bit of cash looking for an apartment, the high end of the market’s wide open, as lease signings slow and inventory multiplies, all amid a local slump in hiring for good-paying jobs.

The flood of supply amid this decrease in demand leaves developers scrambling to find creative ways to attract renters into gleaming new homes.

According to data compiled by market watcher CoStar, 43% of Los Angeles apartments now offer some form of concessions — shooting up from 29% last year.

That comes as the city has added 37,000 new luxury apartment units in the last five years, the analyzers say. And with 12,000 more units under construction right now, it’s decidedly a renter’s market — as long the renter is well-heeled.

According to Adam Rosenkranz of Christina Development Corp., the developer of The Mercer, the Erewhon offer is the first of its kind — which was exactly the point.

“If anyone can say, ‘I have this, you don’t,’ I think there’s that exclusivity that this world of renters is seeking, and especially the younger generation,” Rosenkranz told CoStar.

Other luxury buildings across the city are trying similarly chic giveaways. At 700 Broadway in Santa Monica, lease-signers can get a free four-month membership to high-end gym Equinox — a value of well over $1,000 — as well as 10 weeks of free rent on select units.

The Harper in West Hollywood is offering a $350 Uber gift card to renters, while at Palma Collection in Beverly Hills, renters are being offered a complimentary membership to the exclusive restauarant and event reservation Dorsia.

Some of the deals are great — some stand out more for their uniqueness. Which means they’re working, experts say.

“If somebody puts everything into a spreadsheet, they may find that several months of free rent is worth more,” Erik Edeen, principal and senior director of U.S. investment sales at Avison Young told CoStar.

“But that’s not necessarily the entire point. You’re trying to create some stickiness and give somebody a reason to choose your building and stay there.”

While LA continues to add luxury listings, overall development of new apartments in the U.S. has slowed dramatically.

Developers began construction on about 60,000 apartments in the third quarter of this year, about 71% below the cycle’s peak and the lowest quarterly total since 2012, according to CoStar.

Eden says the concession competition at luxury apartments will cool down as higher-priced listings get snapped up.

“Things are going to get better as the supply gets absorbed,” he said. “This isn’t something I would expect to continue at the same intensity indefinitely.”

But just how long this goes on ultimately depends on the local economy, one expert said.

“The jobs [the region] adding aren’t necessarily the jobs that support an $8,000- or $10,000-a-month apartment,” Catherine Yeh, CoStar’s director of market analytics for Los Angeles pointed out. “That’s another challenge for the top of the market.”

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