Real estate & rental
Rental Lease Calculator
Total and effective rent over a lease term, once free months and concessions are counted.
Result
Tenancy rules are set by state and often by city, and they are among the most locally variable areas of law there is. Deposit limits, notice periods, late fee caps, interest on deposits and rent increase restrictions all differ and change. This is arithmetic, not legal advice; check your own jurisdiction before relying on any of it. Effective rent is what the property actually earns; face rent is what appears in the listing and in the comparable data. Concession-heavy markets can show flat face rents while effective rents fall substantially, which is why investors ask about concessions specifically.
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About this calculator
Why give free months instead of lower rent?
Because face rent feeds comparable data, valuations and future increases. A concession buys occupancy without permanently resetting the headline number.
How should I compare two leases?
On effective rent over the same term. A lease at $2,400 with two months free is cheaper than one at $2,150 with none, over twelve months.
The formula
effective rent = (face value - concessions + other charges) / term in months
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