Net effective rent averages out your rent after a discount. It lets you compare a home with free weeks to a home with a lower sticker price.
The formula: (monthly rent x months - free rent) / months.
Worked example using Centro’s starting price. This is an illustration, not a quote:
- Rent: $699 a month on a 12-month lease = $8,388.
- Free rent: 8 weeks. Weekly rent is $8,388 / 52 = about $161, so 8 weeks = about $1,290.
- Net total: $8,388 - $1,290 = about $7,098.
- Net effective rent: $7,098 / 12 = about $591 a month.
Your real bill each month is still $699. The $591 is only an average that helps you compare.
Centro Studio Homes lists “up to 8 weeks free on select floor plans.” Offers vary by floor plan and by lease, so your numbers may differ. Ask the leasing office for the exact offer on the home you want. Also ask about the lease term, since Centro does not publish lease lengths.
See more examples in how move-in specials work.
