Question
As the property manager, your leasing agent has a potential tenant. The rent is $25,000/month. You will need to provide some inducement to the tenant
As the property manager, your leasing agent has a potential tenant. The rent is $25,000/month. You will need to provide some inducement to the tenant by offering a tenant improvement allowance of $6/sq. ft. The space measure 110 x 60 ft. There is also a small area in the back that is included in the lease which measures 24 x24 ft. The leasing agent has also included free rent for two months to the tenant as an inducement to sign the lease. What is your revenue, net all expenses collected over the first year period? Note the leasing agent fee is 10% on the rent collected from the tenant during the first year. If your calculation results in a value of $330,500 enter 330500 in the space provided.
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