Quote:
Originally Posted by 604STIG
If you applied the monthly increase of 2.5% to that $1,550 then after 12 months it would equate to $2,084.xx/month. So it actually works out cheaper.  |
That is not how the max rent increase cap works, dude. The 2.5% is an annual rate. The way you are doing it is a compound interest rate, applied on a monthly basis.