A free rent calculator for apartments running specials. This apartment rent calculator amortizes any concession (weeks free, months free, half off three months, percent off, or dollar off) into a monthly rent figure you can budget against, and adds recurring fees on top for an all-in monthly cost.
A free amortization tool for renters and leasing agents. Add a base rent, lease length, any concessions (weeks free, months free, percent off), and recurring fees to see the true net effective monthly rent.
01 — Lease
02 — Concessions
Stack any combination of weeks free, months free, percentage off, or fixed dollars off.
No specials yet.
Add one below or pick a preset.
03 — Recurring fees
Parking, pet rent, amenity fees, valet trash, renter's insurance, or anything else billed monthly on top of rent.
No recurring fees added.
Tip: totals update live as you type.
FAQ
Everything you need to know about rent amortization, apartment concessions, and the difference between gross rent and net effective rent.
Rent amortization is the practice of spreading apartment concessions (weeks free, months free, or percentage discounts) evenly across the full lease so you can compare offers fairly. The result is called the net effective rent (or effective monthly rent) and it's almost always lower than the advertised gross rent.
Net effective rent is your true average monthly rent after concessions are spread across the lease term. The formula is (gross monthly rent × lease months − total concession value) ÷ lease months. Example: a $3,000/month apartment offering 2 months free on a 12-month lease has a net effective rent of $2,500/month.
Multiply the gross monthly rent by the number of months in the lease, subtract the dollar value of every concession, then divide by the lease length. Or paste the numbers into the calculator above and it will do the math instantly.
Four weeks of free rent equals one month of base rent, so the dollar value of weeks free is (monthly rent × weeks free) ÷ 4. On a $3,000/month apartment, 10 weeks free works out to $7,500 in concessions, which on a 13-month lease lowers the effective rent by about $577/month.
It's a 50% discount applied to three full months. On a $4,000/month apartment with a 12-month lease, that's $2,000 × 3 = $6,000 off, which spreads across the lease as $500/month, making the net effective rent $3,500/month.
Gross rent is the headline price you pay each month with no concessions. Net effective rent is the average monthly cost once any specials are factored in. Whether a listing shows the gross or the net effective number usually depends on how the special is being marketed, which is why the two figures can differ by hundreds of dollars on the same apartment.
Yes. Recurring fees like parking, pet rent, amenity fees, valet trash, and renter's insurance directly affect your monthly cash outlay. The calculator's all-in monthly figure adds those on top of the net effective rent so you see the real number you'll wire each month.
Yes. Concessions are typically only earned by completing the full lease. If a lease is broken early, the concession usually becomes void and the gross rent is owed for the months occupied. The calculator assumes you complete the lease.
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