Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What ViralMD said, but just to be clear--> the net effective rent is NOT what you'd be writing the check for each month.
Net effective rent=( 12 months total rent payments- 1 month's rent)/ 12 months.
You would write the check each month for the orginal rental amount, but not owe rent the first (or last, sometimes) month of a yearlong lease .
What ViralMD said, but just to be clear--> the net effective rent is NOT what you'd be writing the check for each month.
Net effective rent=( 12 months total rent payments- 1 month's rent)/ 12 months.
You would write the check each month for the orginal rental amount, but not owe rent the first (or last, sometimes) month of a yearlong lease .
........let's say the rent is $2000
$2k x 12= $24k-$2k(1 month free)=$22K/12=$1833 is NEF
Yes, that's correct. And, some incentives are not tied to rent, but promotional or free rates at in-building health clubs, etc. that are managed by the same company. If it's a contractor, that's a different situation, usually, though there is a discount for building residents.
__________________
All the world's a stage, and all the men and women merely players: they have their exits and their entrances; and one man in his time plays many parts, his acts being seven ages.
~William Shakespeare (As You Like It Act II, Scene VII)
Yes, that's correct. And, some incentives are not tied to rent, but promotional or free rates at in-building health clubs, etc. that are managed by the same company. If it's a contractor, that's a different situation, usually, though there is a discount for building residents.
Are those incentives included or extra costs to the renter?
Some buildings are including them. It all depends upon how many units that need to be filled, and price point, as to how attractive the deals are right now. Some buildings do it to gain an advantage, but if there is any extra cost for the amenity, they will disclose it. In a good market, those amenities might require an extra fee, but to remain competitive in their segment, some buildings are offering the full amenities included in the rent.
__________________
All the world's a stage, and all the men and women merely players: they have their exits and their entrances; and one man in his time plays many parts, his acts being seven ages.
~William Shakespeare (As You Like It Act II, Scene VII)
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
