In this lease, "Monthly Rent" refers to the monthly installment of the Minimum Annual Rent plus the monthly installment of the anticipated Annual Operating Expenses.
How do you calculate what a property should rent for?
- This general recommendation recommends setting your monthly rent at 1% (or between 0.8 and 1.1%) of the total market value of your home.
- Unless the lease agreement specifies a different schedule, rent is typically paid one month in advance.
- At the beginning of the tenancy, landlords frequently want a deposit, which cannot be greater than one month's rent.
- Calculating the rent each month:
- Due to the $350 monthly net lease. A further $6,000 is paid annually.
- Thus, the appropriate monthly rent is
= $350 + ($6000 ÷ 12)
= $350 + $500
=$850.
As a result, we can say that option $850 should be the monthly rent.
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