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stupid rental tricks

Started by hoodia
almost 11 years ago
Posts: 154
Member since: Jun 2009
Discussion about
What is with Net Effective Rents? They list both that and a free month. No wonder there is so much distrust in the rental world.
Response by bsolomon
almost 11 years ago
Posts: 23
Member since: Jan 2011

Hoodia. Net effective rents are based off concessions. Meaning if they are offering one free month on a 12 month lease term the net effective rent is based off 11 months. example: rent is $3,000. $3000 x's 11 month's (taken out the 1 month free)= $33,000/ 12 months (lease term) $2750 is the net effective rent. Please keep in mind you aren't always paying that rent as sometimes they are just giving you 1 free month and not breaking it up over the course of the lease in which your rent will remain at $3,000 with a certain month for free.

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