Amedeo made this tool in October 2023. Visit his website: hellotumo.com.
Apartment complexes like to give away a month or two on a lease and then advertise a rental rate that reflects a discount incorporating these free chunks of time. Saving money is great, but when those "free months" are up, you'll be faced with a monthly bill that may be a lot more than you expected.
Since 58% of Americans live paycheck to paycheck, I suspect many of us don't sit around planning on paying our rent in yearlong timelines. Many of us may be unable to handle rent going up even a hundred bucks above an enticing, lower, and misleading number, even though we swore we could manage it.
Avoid a nasty surprise and use the calculator below. If you found this useful, consider donating to me via Paypal (but save money for rent!):
Type in the promotional monthly rental rate:
Type in the lease length in months:
Type in the duration in months (half-month increments are possible) of the promotional deal:
Click the button to calculate the real rent:
The real rent cost per month is:
You can verify the results by: ((Real rent monthly cost X lease duration) — real rent monthly cost) / lease duration. The result should equal the promotional monthly rate.
Again, if you found this useful, consider donating to me via Paypal: