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EDDIE LANDSBERG
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How about a math trick?
​

Gross vs. Net Effective Rent can be very confusing.

Think of it like this:  Gross is more akin to the monthly rent you're really playing.   Net is what the math makes you look like you're playing after you factor in a temporary discount when you sign the lease. 

I wouldn't call either deceptive, but they can be confusing. 

Keep in mind that landlords think in "lease terms" -- for example, a one year lease wouldn't be $1800 a month.   It's $1800 x 12 (the term of the lease.)    That's $21,600.  

Now, let's say you get one month free.   That means, technically speaking you're paying $1800 x 11, meaning $19,800 for the year.   Divided by 12, that means you're only paying $1650 a month!   

Wow!

But wait...  One month was free.   That means, next year (assuming the rent doesn't go up and assuming you don't get another free month) you're paying $1800 a month, definitely not $1650.

And that's how the $1650 apartment you saw in the listing actually turns out to be $1800, and why you'll likely have to qualify for least $1800 x 40 (or more) as the minimum income requirement, not $1650 x 40.  

So, $1650 is the net effective rent, but the gross rent is $1800.  

Got it?
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​Edward Paul Landsberg
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Edward Landsberg doing business as Eddie Landsberg.   I am a Licensed Real Estate Sales Person affiliated with Keller Williams NYC.   The website is not owned or operated by Keller Williams, KWNYC or any of its entities.  
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  • BIO + BROKER LINK
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    • RECENT VIEWINGS
  • PROFILE (AS MUSICIAN)
  • RENTER EDUCATION
    • QUESTIONS ABOUT RENTING APARTMENTS IN NYC
  • RLS IDX (Search Engine)
    • RLS IDX explained
  • FAIR HOUSING NOTICE
  • Book a consultation