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I am calculating the implied Market Rent Growth (%) for a Same Store Growth and Asset Summary analysis. I know the Excel formula is: =IFERROR((Average
I am calculating the implied Market Rent Growth (%) for a Same Store Growth and Asset Summary analysis. I know the Excel formula is: =IFERROR((Average Prior Rent + Rent Lift Over Prior - Rent Lift Over Unrenovated Market Rent) / Average Prior Rent - 1). Why do I have to subtract the 1 at the end and what does that do? Could you please explain using another example as well?
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