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4 August, 08:58

You have a three-year fixed rate lease of $750/month due to expire next month. Your landlord is willing to renew the three-year lease with a 4% total rent increase. What is your rent over the three-year life of the new lease?

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  1. 4 August, 09:24
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    A three-year fixed rate lease = $750/month

    The new rent in one month = (1 + (4/100)) x 750 $/month

    = 780 $/month

    The rent in one year = 12 x 780 $/month = 9360 $/year

    The rent in three years = 9360 $/year x 3 year = $ 28,080
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