A 2,500 SF property is advertised at $18 per square foot. What is the tenant's monthly rent payment?

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Prepare for the Arizona Real Estate License Exam. Ace your test with multiple choice questions, each offering hints and explanations. Maximize your success and get ready to succeed!

Multiple Choice

A 2,500 SF property is advertised at $18 per square foot. What is the tenant's monthly rent payment?

Explanation:
To find the tenant's monthly rent payment, we first calculate the annual rent based on the advertised price per square foot and the total square footage of the property. 1. Determine the annual rent: Multiply the total square footage (2,500 SF) by the cost per square foot ($18). 2,500 SF × $18/SF = $45,000 per year. 2. Convert the annual rent to a monthly rent: To do this, divide the annual rent by 12 months. $45,000 ÷ 12 = $3,750. Thus, the tenant's monthly rent payment is correctly calculated as $3,750.

To find the tenant's monthly rent payment, we first calculate the annual rent based on the advertised price per square foot and the total square footage of the property.

  1. Determine the annual rent:

Multiply the total square footage (2,500 SF) by the cost per square foot ($18).

2,500 SF × $18/SF = $45,000 per year.

  1. Convert the annual rent to a monthly rent:

To do this, divide the annual rent by 12 months.

$45,000 ÷ 12 = $3,750.

Thus, the tenant's monthly rent payment is correctly calculated as $3,750.

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