How Do You Figure Rent Per Square Foot?
Understanding what you pay per square foot can help you determine which property is the best value for your money. Calculating rent per square foot is simple once you have the square footage of usable space and the total rent expense. When comparing several properties, the rate per square foot can help you identify which property offers you the most space for your monthly rent payment. Use the tape measure to determine the length of the space in feet. Write this down on a piece of paper for reference. Use the tape measure to determine the width of the space in feet. Write this down on a piece of paper for reference. Using your calculator, multiply the length x width of the space to determine the square footage of the property. Using your calculator, divide the annual rent amount by 12 to obtain a monthly rate. Divide the rent amount by the square footage of the property. This is the rent per square foot of the property.
