{"product_id":"net-effective-rent","title":"Net Effective Rent Calculator","description":"\u003cstyle\u003e\n.ner-calculator,\n.ner-calculator *,\n.ner-calculator *::before,\n.ner-calculator *::after { box-sizing: border-box; }\n.ner-calculator {\n  --ink: #0f172a;\n  --muted: #475569;\n  --border: #e2e8f0;\n  --surface: #ffffff;\n  --tint: #f8fafc;\n  --primary: #1d4ed8;\n  --accent: #c2410c;\n  --accent-hover: #9a3412;\n  --chart-1: #1e40af;\n  --chart-2: #0d9488;\n  --chart-3: #7c3aed;\n  --chart-4: #be185d;\n  --chart-5: #334155;\n  width: 100%;\n  max-width: 1200px;\n  margin: 0 auto;\n  color: var(--ink);\n  background: var(--surface);\n  font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Helvetica, Arial, sans-serif;\n  font-size: 15px;\n  line-height: 1.55;\n  container-type: inline-size;\n}\n.ner-calculator [hidden] { display: none !important; }\n.ner-calculator a { color: var(--primary); text-decoration-thickness: 1px; text-underline-offset: 3px; }\n.ner-calculator a:hover { text-decoration-thickness: 2px; }\n.ner-calculator button,\n.ner-calculator input,\n.ner-calculator select { font: inherit; }\n.ner-calculator button { cursor: pointer; }\n.ner-calculator :focus-visible { outline: 3px solid #1d4ed8; outline-offset: 2px; }\n.ner-shell { display: grid; gap: 24px; min-width: 0; }\n.ner-header { display: grid; gap: 12px; padding: 24px; border: 1px solid var(--border); border-radius: 8px; background: var(--tint); min-width: 0; }\n.ner-title { margin: 0; font-size: 24px; line-height: 1.25; font-weight: 700; letter-spacing: -.02em; }\n.ner-subtitle { margin: 0; max-width: 820px; color: var(--muted); }\n.ner-pills { display: flex; flex-wrap: wrap; gap: 8px; min-width: 0; }\n.ner-pill { display: inline-flex; align-items: baseline; gap: 8px; min-width: 0; padding: 8px 12px; border: 1px solid var(--border); border-radius: 999px; background: var(--surface); color: var(--muted); font-size: 13px; font-weight: 500; }\n.ner-pill strong { color: var(--ink); font-variant-numeric: tabular-nums; }\n.ner-toolbar { display: flex; flex-wrap: wrap; align-items: center; gap: 12px; min-width: 0; }\n.ner-button { min-height: 46px; border: 1px solid #64748b; border-radius: 6px; padding: 11px 18px; background: var(--surface); color: var(--ink); font-weight: 650; box-shadow: 0 1px 2px rgba(15,23,42,.06); }\n.ner-button:hover { border-color: #94a3b8; box-shadow: 0 2px 5px rgba(15,23,42,.10); }\n.ner-download { display: inline-flex; align-items: center; gap: 10px; white-space: nowrap; border-color: var(--accent); background: var(--accent); color: #ffffff; }\n.ner-download:hover { border-color: var(--accent-hover); background: var(--accent-hover); }\n.ner-download-icon { width: 18px; height: 18px; flex: 0 0 auto; }\n.ner-workspace { display: grid; grid-template-columns: minmax(0, 1.02fr) minmax(0, .98fr); gap: 24px; align-items: start; min-width: 0; }\n.ner-workspace \u003e *,\n.ner-field-grid \u003e *,\n.ner-results-grid \u003e *,\n.ner-chart-cluster \u003e *,\n.ner-legend-row \u003e *,\n.ner-mini-grid \u003e *,\n.ner-education-grid \u003e * { min-width: 0; }\n.ner-card { min-width: 0; border: 1px solid var(--border); border-radius: 8px; background: var(--surface); box-shadow: 0 1px 2px rgba(15,23,42,.06); }\n.ner-card-head { display: grid; gap: 4px; padding: 20px 20px 0; }\n.ner-card-title { margin: 0; font-size: 18px; line-height: 1.35; font-weight: 650; }\n.ner-card-copy { margin: 0; color: var(--muted); font-size: 13px; }\n.ner-card-body { padding: 20px; min-width: 0; }\n.ner-field-grid { display: grid; grid-template-columns: repeat(2, minmax(0, 1fr)); gap: 16px; min-width: 0; }\n.ner-field { display: grid; grid-template-rows: auto auto minmax(40px, auto); align-content: start; gap: 8px; min-width: 0; }\n.ner-field-full { grid-column: 1 \/ -1; }\n.ner-label { display: block; font-size: 14px; line-height: 1.35; font-weight: 600; color: var(--ink); }\n.ner-control-row { display: grid; grid-template-columns: minmax(0, 1fr) auto; gap: 8px; align-items: stretch; min-width: 0; }\n.ner-input,\n.ner-select { width: 100%; min-height: 44px; border: 1px solid #64748b; border-radius: 6px; padding: 9px 11px; background: #ffffff; color: var(--ink); font-size: 15px; font-variant-numeric: tabular-nums; }\n.ner-input:hover,\n.ner-select:hover { border-color: #334155; }\n.ner-input[aria-invalid=\"true\"] { border-color: #b91c1c; }\n.ner-unit-select { width: auto; min-width: 104px; }\n.ner-helper { min-height: 40px; margin: 0; color: var(--muted); font-size: 13px; line-height: 1.45; }\n.ner-error { display: none; color: #991b1b; font-size: 13px; font-weight: 500; }\n.ner-error.ner-show { display: block; }\n.ner-results-panel { display: grid; gap: 16px; min-width: 0; }\n.ner-primary-result { display: grid; gap: 4px; padding: 20px; border: 1px solid #bfdbfe; border-radius: 8px; background: #eff6ff; min-width: 0; }\n.ner-primary-label { color: #1e3a8a; font-size: 13px; font-weight: 650; text-transform: uppercase; letter-spacing: .05em; }\n.ner-primary-value { font-size: 30px; line-height: 1.15; font-weight: 700; font-variant-numeric: tabular-nums; overflow-wrap: anywhere; }\n.ner-primary-note { color: var(--muted); font-size: 13px; }\n.ner-results-grid { display: grid; grid-template-columns: repeat(2, minmax(0, 1fr)); gap: 12px; min-width: 0; }\n.ner-result-card { display: grid; gap: 4px; align-content: start; min-height: 104px; padding: 16px; border: 1px solid var(--border); border-radius: 8px; background: var(--tint); min-width: 0; }\n.ner-result-label { color: var(--muted); font-size: 13px; font-weight: 600; }\n.ner-result-value { font-size: 20px; line-height: 1.25; font-weight: 700; font-variant-numeric: tabular-nums; overflow-wrap: anywhere; }\n.ner-result-note { color: var(--muted); font-size: 13px; }\n.ner-live { position: absolute; width: 1px; height: 1px; padding: 0; margin: -1px; overflow: hidden; clip: rect(0,0,0,0); white-space: nowrap; border: 0; }\n.ner-section { display: grid; gap: 16px; min-width: 0; }\n.ner-section-head { display: grid; gap: 4px; min-width: 0; }\n.ner-section-title { margin: 0; font-size: 18px; line-height: 1.35; font-weight: 650; }\n.ner-section-copy { margin: 0; color: var(--muted); font-size: 13px; }\n.ner-chart-card { display: grid; gap: 16px; padding: 20px; min-width: 0; border: 1px solid var(--border); border-radius: 8px; background: var(--surface); box-shadow: 0 1px 2px rgba(15,23,42,.06); }\n.ner-chart-card.ner-safe-stack { gap: 20px; }\n.ner-chart-intro { display: grid; gap: 4px; min-width: 0; }\n.ner-chart-title { margin: 0; font-size: 18px; line-height: 1.35; font-weight: 650; }\n.ner-chart-subtitle { margin: 0; color: var(--muted); font-size: 13px; }\n.ner-chart-cluster { display: grid; grid-template-columns: minmax(260px, 360px) minmax(280px, 420px); justify-content: center; align-items: center; gap: 24px; min-width: 0; }\n.ner-safe-stack .ner-chart-cluster { grid-template-columns: minmax(0, 1fr); justify-items: center; }\n.ner-visual-wrap { display: grid; place-items: center; width: 100%; min-width: 0; }\n.ner-donut-svg { display: block; width: min(100%, 320px); height: auto; aspect-ratio: 1; overflow: visible; }\n.ner-line-svg { display: block; width: 100%; height: auto; min-height: 0; overflow: visible; }\n.ner-legend { display: grid; gap: 10px; justify-content: start; min-width: 0; }\n.ner-legend-row { display: grid; grid-template-columns: 12px minmax(110px, auto) auto auto; align-items: baseline; justify-content: start; gap: 8px 12px; color: var(--muted); font-size: 13px; min-width: 0; }\n.ner-swatch { width: 12px; height: 12px; border-radius: 3px; align-self: center; }\n.ner-legend-name { color: var(--ink); font-weight: 600; }\n.ner-legend-value,\n.ner-legend-percent { color: var(--ink); font-variant-numeric: tabular-nums; white-space: nowrap; }\n.ner-chart-callout { margin-top: 16px; padding: 10px 12px; border: 1px solid var(--border); border-radius: 6px; background: var(--tint); color: var(--muted); font-size: 13px; }\n.ner-safe-stack .ner-chart-callout { margin-top: 20px; }\n.ner-empty { display: none; width: 100%; padding: 16px; border: 1px dashed #94a3b8; border-radius: 6px; background: var(--tint); color: var(--muted); text-align: center; font-size: 13px; }\n.ner-empty.ner-show { display: block; }\n.ner-data-summary { position: absolute; width: 1px; height: 1px; padding: 0; margin: -1px; overflow: hidden; clip: rect(0,0,0,0); white-space: nowrap; border: 0; }\n.ner-mini-grid { display: grid; grid-template-columns: repeat(3, minmax(0, 1fr)); gap: 12px; min-width: 0; }\n.ner-mini-stat { display: grid; gap: 3px; padding: 12px; border: 1px solid var(--border); border-radius: 6px; background: var(--tint); min-width: 0; }\n.ner-mini-label { color: var(--muted); font-size: 13px; }\n.ner-mini-value { font-weight: 700; font-variant-numeric: tabular-nums; overflow-wrap: anywhere; }\n.ner-table-card { display: grid; gap: 0; min-width: 0; border: 1px solid var(--border); border-radius: 8px; background: var(--surface); box-shadow: 0 1px 2px rgba(15,23,42,.06); }\n.ner-table-card.ner-safe-table-stack { min-height: auto; }\n.ner-table-head { display: grid; gap: 4px; padding: 20px; }\n.ner-table-wrap { width: 100%; max-width: 100%; overflow-x: auto; border-top: 1px solid var(--border); border-bottom: 1px solid var(--border); }\n.ner-table { width: 100%; min-width: 760px; border-collapse: collapse; font-size: 13px; font-variant-numeric: tabular-nums; }\n.ner-table th,\n.ner-table td { padding: 10px 12px; border-bottom: 1px solid var(--border); text-align: right; white-space: nowrap; }\n.ner-table th:first-child,\n.ner-table td:first-child { text-align: left; }\n.ner-table thead th { background: #0f172a; color: #ffffff; font-weight: 650; }\n.ner-table tbody tr:hover { background: var(--tint); }\n.ner-table tbody tr:last-child td { border-bottom: 0; font-weight: 650; }\n.ner-table-note { margin: 16px 20px 20px; padding: 10px 12px; border: 1px solid var(--border); border-radius: 6px; background: var(--tint); color: var(--muted); font-size: 13px; }\n.ner-safe-table-stack .ner-table-note { margin-top: 20px; }\n.ner-advanced { border: 1px solid var(--border); border-radius: 8px; background: var(--surface); }\n.ner-advanced-summary { padding: 16px 20px; font-size: 14px; font-weight: 650; cursor: pointer; }\n.ner-advanced-body { padding: 4px 20px 20px; }\n.ner-check-row { display: flex; align-items: flex-start; gap: 10px; margin-bottom: 16px; min-width: 0; }\n.ner-checkbox { width: 18px; height: 18px; margin-top: 2px; accent-color: var(--primary); flex: 0 0 auto; }\n.ner-check-copy { display: grid; gap: 2px; min-width: 0; }\n.ner-check-label { font-size: 14px; font-weight: 600; }\n.ner-check-help { color: var(--muted); font-size: 13px; }\n.ner-area-fields { display: none; }\n.ner-area-fields.ner-show { display: grid; }\n.ner-education { display: grid; gap: 24px; padding: 24px; border: 1px solid var(--border); border-radius: 8px; background: var(--tint); min-width: 0; }\n.ner-education-grid { display: grid; grid-template-columns: repeat(2, minmax(0, 1fr)); gap: 24px 32px; min-width: 0; }\n.ner-education-block { min-width: 0; }\n.ner-education h2,\n.ner-education h3 { margin: 0 0 8px; color: var(--ink); line-height: 1.35; }\n.ner-education h2 { font-size: 18px; font-weight: 650; }\n.ner-education h3 { font-size: 16px; font-weight: 650; }\n.ner-education p { margin: 0 0 12px; color: #334155; }\n.ner-education p:last-child { margin-bottom: 0; }\n.ner-formula { padding: 12px; border-left: 4px solid var(--primary); border-radius: 0 6px 6px 0; background: #ffffff; font-variant-numeric: tabular-nums; overflow-wrap: anywhere; }\n@container (max-width: 899px) {\n  .ner-workspace { grid-template-columns: minmax(0, 1fr); }\n}\n@media (max-width: 899px) {\n  .ner-workspace { grid-template-columns: minmax(0, 1fr); }\n}\n@container (max-width: 639px) {\n  .ner-header,\n  .ner-education { padding: 16px; }\n  .ner-card-head { padding: 16px 16px 0; }\n  .ner-card-body,\n  .ner-chart-card { padding: 16px; }\n  .ner-field-grid,\n  .ner-results-grid,\n  .ner-mini-grid,\n  .ner-education-grid { grid-template-columns: minmax(0, 1fr); }\n  .ner-field-full { grid-column: auto; }\n  .ner-control-row { grid-template-columns: minmax(0, 1fr); }\n  .ner-unit-select { width: 100%; }\n  .ner-chart-cluster { grid-template-columns: minmax(0, 1fr); justify-items: center; gap: 16px; }\n  .ner-legend { width: 100%; justify-content: center; }\n  .ner-legend-row { grid-template-columns: 12px minmax(96px, auto) auto auto; gap: 8px; }\n  .ner-chart-callout { margin-top: 12px; }\n  .ner-table-note { margin: 12px 16px 16px; }\n  .ner-primary-value { font-size: 28px; }\n}\n@container (max-width: 359px) {\n  .ner-toolbar { align-items: stretch; }\n  .ner-button { width: 100%; justify-content: center; }\n  .ner-legend-row { grid-template-columns: 12px minmax(0, 1fr) auto; }\n  .ner-legend-percent { grid-column: 2 \/ 4; padding-left: 0; }\n}\n@media (max-width: 639px) {\n  .ner-calculator { font-size: 15px; }\n  .ner-header,\n  .ner-education { padding: 16px; }\n  .ner-card-head { padding: 16px 16px 0; }\n  .ner-card-body,\n  .ner-chart-card { padding: 16px; }\n  .ner-field-grid,\n  .ner-results-grid,\n  .ner-mini-grid,\n  .ner-education-grid { grid-template-columns: minmax(0, 1fr); }\n  .ner-field-full { grid-column: auto; }\n  .ner-control-row { grid-template-columns: minmax(0, 1fr); }\n  .ner-unit-select { width: 100%; }\n  .ner-chart-cluster { grid-template-columns: minmax(0, 1fr); justify-items: center; gap: 16px; }\n  .ner-legend { width: 100%; justify-content: center; }\n  .ner-legend-row { grid-template-columns: 12px minmax(96px, auto) auto auto; gap: 8px; }\n  .ner-chart-callout { margin-top: 12px; }\n  .ner-table-note { margin: 12px 16px 16px; }\n  .ner-primary-value { font-size: 28px; }\n}\n@media (max-width: 359px) {\n  .ner-toolbar { align-items: stretch; }\n  .ner-button { width: 100%; justify-content: center; }\n  .ner-legend-row { grid-template-columns: 12px minmax(0, 1fr) auto; }\n  .ner-legend-percent { grid-column: 2 \/ 4; padding-left: 0; }\n}\n\u003c\/style\u003e\n\u003cdiv class=\"ner-calculator\" data-calculator-root\u003e\n  \u003cdiv class=\"ner-shell\"\u003e\n    \u003cheader class=\"ner-header\"\u003e\n      \u003ch2 class=\"ner-title\"\u003eNet Effective Rent Calculator\u003c\/h2\u003e\n      \u003cp class=\"ner-subtitle\"\u003eTranslate face rent, free months, tenant allowances, and monthly operating costs into a comparable monthly and annual rent figure.\u003c\/p\u003e\n      \u003cdiv class=\"ner-pills\" aria-label=\"Live lease summary\"\u003e\n        \u003cspan class=\"ner-pill\"\u003eMonthly NER \u003cstrong data-pill=\"monthly\"\u003e$0.00\u003c\/strong\u003e\u003c\/span\u003e\n        \u003cspan class=\"ner-pill\"\u003eAnnual NER \u003cstrong data-pill=\"annual\"\u003e$0.00\u003c\/strong\u003e\u003c\/span\u003e\n        \u003cspan class=\"ner-pill\"\u003eEffective discount \u003cstrong data-pill=\"discount\"\u003e0.00%\u003c\/strong\u003e\u003c\/span\u003e\n        \u003cspan class=\"ner-pill\"\u003eLease net \u003cstrong data-pill=\"lease\"\u003e$0.00\u003c\/strong\u003e\u003c\/span\u003e\n      \u003c\/div\u003e\n    \u003c\/header\u003e\n\n    \u003cdiv class=\"ner-toolbar\" aria-label=\"Calculator actions\"\u003e\n      \u003cbutton class=\"ner-button ner-download\" type=\"button\" data-action=\"download\"\u003e\n        \u003csvg class=\"ner-download-icon\" viewbox=\"0 0 24 24\" aria-hidden=\"true\"\u003e\u003cpath fill=\"currentColor\" d=\"M5 20h14v-2H5v2Zm7-18a1 1 0 0 0-1 1v9.59L8.7 10.3a1 1 0 1 0-1.4 1.4l4 4a1 1 0 0 0 1.4 0l4-4a1 1 0 0 0-1.4-1.4L13 12.59V3a1 1 0 0 0-1-1Z\"\u003e\u003c\/path\u003e\u003c\/svg\u003e\n        \u003cspan\u003eDownload Excel\u003c\/span\u003e\n      \u003c\/button\u003e\n      \u003cbutton class=\"ner-button\" type=\"button\" data-action=\"reset\"\u003eReset\u003c\/button\u003e\n    \u003c\/div\u003e\n\n    \u003csection class=\"ner-workspace\" aria-label=\"Calculator workspace\"\u003e\n      \u003cdiv class=\"ner-card\"\u003e\n        \u003cdiv class=\"ner-card-head\"\u003e\n          \u003ch3 class=\"ner-card-title\"\u003eLease assumptions\u003c\/h3\u003e\n          \u003cp class=\"ner-card-copy\"\u003eEnter the economics stated in the lease. Results update as you type.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ner-card-body\"\u003e\n          \u003cdiv class=\"ner-field-grid\"\u003e\n            \u003cdiv class=\"ner-field\"\u003e\n              \u003clabel class=\"ner-label\" for=\"ner-term\"\u003eLease term\u003c\/label\u003e\n              \u003cdiv class=\"ner-control-row\"\u003e\n                \u003cinput class=\"ner-input\" id=\"ner-term\" data-field=\"term\" data-format=\"number\" inputmode=\"decimal\" value=\"24\" aria-describedby=\"ner-term-help ner-term-error\"\u003e\n                \u003cselect class=\"ner-select ner-unit-select\" id=\"ner-term-unit\" data-field=\"termUnit\" aria-label=\"Lease term unit\"\u003e\n                  \u003coption value=\"months\" selected\u003emonths\u003c\/option\u003e\n                  \u003coption value=\"years\"\u003eyears\u003c\/option\u003e\n                \u003c\/select\u003e\n              \u003c\/div\u003e\n              \u003cdiv\u003e\n                \u003cp class=\"ner-helper\" id=\"ner-term-help\"\u003eUse the full contractual term. Years are converted to whole months.\u003c\/p\u003e\n                \u003cdiv class=\"ner-error\" id=\"ner-term-error\"\u003e\u003c\/div\u003e\n              \u003c\/div\u003e\n            \u003c\/div\u003e\n\n            \u003cdiv class=\"ner-field\"\u003e\n              \u003clabel class=\"ner-label\" for=\"ner-rent\" data-label=\"rent\"\u003eMonthly rent\u003c\/label\u003e\n              \u003cinput class=\"ner-input\" id=\"ner-rent\" data-field=\"rent\" data-format=\"currency\" inputmode=\"decimal\" value=\"$3,200.00\" aria-describedby=\"ner-rent-help ner-rent-error\"\u003e\n              \u003cdiv\u003e\n                \u003cp class=\"ner-helper\" id=\"ner-rent-help\" data-help=\"rent\"\u003eFace rent before concessions and operating costs.\u003c\/p\u003e\n                \u003cdiv class=\"ner-error\" id=\"ner-rent-error\"\u003e\u003c\/div\u003e\n              \u003c\/div\u003e\n            \u003c\/div\u003e\n\n            \u003cdiv class=\"ner-field\"\u003e\n              \u003clabel class=\"ner-label\" for=\"ner-free-months\"\u003eRent-free months\u003c\/label\u003e\n              \u003cinput class=\"ner-input\" id=\"ner-free-months\" data-field=\"freeMonths\" data-format=\"number\" inputmode=\"decimal\" value=\"1\" aria-describedby=\"ner-free-help ner-free-error\"\u003e\n              \u003cdiv\u003e\n                \u003cp class=\"ner-helper\" id=\"ner-free-help\"\u003eFull months for which no base rent is collected.\u003c\/p\u003e\n                \u003cdiv class=\"ner-error\" id=\"ner-free-error\"\u003e\u003c\/div\u003e\n              \u003c\/div\u003e\n            \u003c\/div\u003e\n\n            \u003cdiv class=\"ner-field\"\u003e\n              \u003clabel class=\"ner-label\" for=\"ner-allowance\" data-label=\"allowance\"\u003eTenant cash allowance\u003c\/label\u003e\n              \u003cinput class=\"ner-input\" id=\"ner-allowance\" data-field=\"allowance\" data-format=\"currency\" inputmode=\"decimal\" value=\"$4,000.00\" aria-describedby=\"ner-allowance-help ner-allowance-error\"\u003e\n              \u003cdiv\u003e\n                \u003cp class=\"ner-helper\" id=\"ner-allowance-help\" data-help=\"allowance\"\u003eOne-time landlord-funded credit or improvement allowance.\u003c\/p\u003e\n                \u003cdiv class=\"ner-error\" id=\"ner-allowance-error\"\u003e\u003c\/div\u003e\n              \u003c\/div\u003e\n            \u003c\/div\u003e\n\n            \u003cdiv class=\"ner-field ner-field-full\"\u003e\n              \u003clabel class=\"ner-label\" for=\"ner-operating\" data-label=\"operating\"\u003eOperating costs\u003c\/label\u003e\n              \u003cdiv class=\"ner-control-row\"\u003e\n                \u003cinput class=\"ner-input\" id=\"ner-operating\" data-field=\"operating\" data-format=\"percent\" inputmode=\"decimal\" value=\"8.00%\" aria-describedby=\"ner-operating-help ner-operating-error\"\u003e\n                \u003cselect class=\"ner-select ner-unit-select\" id=\"ner-operating-unit\" data-field=\"operatingUnit\" aria-label=\"Operating cost unit\"\u003e\n                  \u003coption value=\"percent\" selected\u003e% of rent\u003c\/option\u003e\n                  \u003coption value=\"currency\"\u003e$ \/ month\u003c\/option\u003e\n                \u003c\/select\u003e\n              \u003c\/div\u003e\n              \u003cdiv\u003e\n                \u003cp class=\"ner-helper\" id=\"ner-operating-help\" data-help=\"operating\"\u003eRecurring monthly landlord costs, entered as a share of face rent or as dollars.\u003c\/p\u003e\n                \u003cdiv class=\"ner-error\" id=\"ner-operating-error\"\u003e\u003c\/div\u003e\n              \u003c\/div\u003e\n            \u003c\/div\u003e\n          \u003c\/div\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n\n      \u003cdiv class=\"ner-results-panel\"\u003e\n        \u003cdiv class=\"ner-primary-result\"\u003e\n          \u003cdiv class=\"ner-primary-label\"\u003eNet effective rent per month\u003c\/div\u003e\n          \u003cdiv class=\"ner-primary-value\" data-result=\"monthly\"\u003e$2,644.00\u003c\/div\u003e\n          \u003cdiv class=\"ner-primary-note\" data-result-note=\"monthly\"\u003eAverage monthly landlord income after concessions and operating costs.\u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ner-results-grid\"\u003e\n          \u003cdiv class=\"ner-result-card\"\u003e\n            \u003cspan class=\"ner-result-label\"\u003eAnnual net effective rent\u003c\/span\u003e\n            \u003cstrong class=\"ner-result-value\" data-result=\"annual\"\u003e$31,728.00\u003c\/strong\u003e\n            \u003cspan class=\"ner-result-note\"\u003eMonthly NER × 12\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ner-result-card\"\u003e\n            \u003cspan class=\"ner-result-label\"\u003eNet income over lease\u003c\/span\u003e\n            \u003cstrong class=\"ner-result-value\" data-result=\"leaseNet\"\u003e$63,456.00\u003c\/strong\u003e\n            \u003cspan class=\"ner-result-note\"\u003eCash retained across the term\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ner-result-card\"\u003e\n            \u003cspan class=\"ner-result-label\"\u003eGross scheduled rent\u003c\/span\u003e\n            \u003cstrong class=\"ner-result-value\" data-result=\"gross\"\u003e$76,800.00\u003c\/strong\u003e\n            \u003cspan class=\"ner-result-note\"\u003eFace rent × lease months\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ner-result-card\"\u003e\n            \u003cspan class=\"ner-result-label\"\u003eRent concessions\u003c\/span\u003e\n            \u003cstrong class=\"ner-result-value\" data-result=\"concessions\"\u003e$7,200.00\u003c\/strong\u003e\n            \u003cspan class=\"ner-result-note\"\u003eFree rent plus cash allowance\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ner-result-card\"\u003e\n            \u003cspan class=\"ner-result-label\"\u003eOperating costs over lease\u003c\/span\u003e\n            \u003cstrong class=\"ner-result-value\" data-result=\"operatingTotal\"\u003e$6,144.00\u003c\/strong\u003e\n            \u003cspan class=\"ner-result-note\" data-result-note=\"operating\"\u003e$256.00 per month\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ner-result-card\"\u003e\n            \u003cspan class=\"ner-result-label\"\u003eEffective discount to face rent\u003c\/span\u003e\n            \u003cstrong class=\"ner-result-value\" data-result=\"discount\"\u003e17.38%\u003c\/strong\u003e\n            \u003cspan class=\"ner-result-note\"\u003eAnnual reduction versus gross annual rent\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ner-result-card\" data-area-result-card hidden\u003e\n            \u003cspan class=\"ner-result-label\"\u003eMonthly NER per area\u003c\/span\u003e\n            \u003cstrong class=\"ner-result-value\" data-result=\"perAreaMonthly\"\u003e$0.00\u003c\/strong\u003e\n            \u003cspan class=\"ner-result-note\" data-result-note=\"areaUnit\"\u003ePer sq ft per month\u003c\/span\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ner-result-card\" data-area-result-card hidden\u003e\n            \u003cspan class=\"ner-result-label\"\u003eAnnual NER per area\u003c\/span\u003e\n            \u003cstrong class=\"ner-result-value\" data-result=\"perAreaAnnual\"\u003e$0.00\u003c\/strong\u003e\n            \u003cspan class=\"ner-result-note\" data-result-note=\"areaAnnualUnit\"\u003ePer sq ft per year\u003c\/span\u003e\n          \u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ner-live\" aria-live=\"polite\" data-live\u003e\u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/section\u003e\n\n    \u003csection class=\"ner-section\" aria-labelledby=\"ner-breakdown-title\"\u003e\n      \u003cdiv class=\"ner-chart-card\" data-chart-card=\"breakdown\"\u003e\n        \u003cdiv class=\"ner-chart-intro\"\u003e\n          \u003ch3 class=\"ner-chart-title\" id=\"ner-breakdown-title\"\u003eLease value allocation\u003c\/h3\u003e\n          \u003cp class=\"ner-chart-subtitle\" data-breakdown-subtitle\u003eSee how scheduled rent is divided between retained income, concessions, and operating costs.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ner-chart-cluster\"\u003e\n          \u003cdiv class=\"ner-visual-wrap\" data-plot=\"breakdown\"\u003e\n            \u003csvg class=\"ner-donut-svg\" data-chart=\"breakdown\" viewbox=\"0 0 320 320\" role=\"img\" aria-labelledby=\"ner-breakdown-title ner-breakdown-summary\"\u003e\u003c\/svg\u003e\n            \u003cdiv class=\"ner-empty\" data-empty=\"breakdown\"\u003eEnter positive lease values to see the allocation.\u003c\/div\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ner-legend\" data-legend=\"breakdown\" aria-label=\"Lease value allocation legend\"\u003e\u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ner-chart-callout\" data-caption=\"breakdown\"\u003eThe lease retains 82.63% of scheduled face rent after concessions and operating costs.\u003c\/div\u003e\n        \u003cdiv class=\"ner-data-summary\" id=\"ner-breakdown-summary\" data-summary=\"breakdown\"\u003e\u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/section\u003e\n\n    \u003csection class=\"ner-section\" aria-labelledby=\"ner-cashflow-title\"\u003e\n      \u003cdiv class=\"ner-chart-card\" data-chart-card=\"cashflow\"\u003e\n        \u003cdiv class=\"ner-chart-intro\"\u003e\n          \u003ch3 class=\"ner-chart-title\" id=\"ner-cashflow-title\"\u003eCumulative lease cash flow\u003c\/h3\u003e\n          \u003cp class=\"ner-chart-subtitle\"\u003eCompare scheduled gross rent with cumulative landlord net cash and cumulative deductions.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ner-visual-wrap\" data-plot=\"cashflow\"\u003e\n          \u003csvg class=\"ner-line-svg\" data-chart=\"cashflow\" viewbox=\"0 0 760 360\" role=\"img\" aria-labelledby=\"ner-cashflow-title ner-cashflow-summary\"\u003e\u003c\/svg\u003e\n          \u003cdiv class=\"ner-empty\" data-empty=\"cashflow\"\u003eEnter a lease term and rent amount to see the cash-flow chart.\u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ner-legend\" data-legend=\"cashflow\" aria-label=\"Cash flow chart legend\"\u003e\u003c\/div\u003e\n        \u003cdiv class=\"ner-mini-grid\"\u003e\n          \u003cdiv class=\"ner-mini-stat\"\u003e\n\u003cspan class=\"ner-mini-label\"\u003eEnding gross rent\u003c\/span\u003e\u003cstrong class=\"ner-mini-value\" data-chart-stat=\"gross\"\u003e$0.00\u003c\/strong\u003e\n\u003c\/div\u003e\n          \u003cdiv class=\"ner-mini-stat\"\u003e\n\u003cspan class=\"ner-mini-label\"\u003eEnding net cash\u003c\/span\u003e\u003cstrong class=\"ner-mini-value\" data-chart-stat=\"net\"\u003e$0.00\u003c\/strong\u003e\n\u003c\/div\u003e\n          \u003cdiv class=\"ner-mini-stat\"\u003e\n\u003cspan class=\"ner-mini-label\"\u003eEnding deductions\u003c\/span\u003e\u003cstrong class=\"ner-mini-value\" data-chart-stat=\"deductions\"\u003e$0.00\u003c\/strong\u003e\n\u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ner-chart-callout\" data-caption=\"cashflow\"\u003eThe schedule assumes free months occur first and the cash allowance is paid in month 1. Those timing assumptions do not change the average NER formula.\u003c\/div\u003e\n        \u003cdiv class=\"ner-data-summary\" id=\"ner-cashflow-summary\" data-summary=\"cashflow\"\u003e\u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/section\u003e\n\n    \u003csection class=\"ner-section\" aria-labelledby=\"ner-table-title\"\u003e\n      \u003cdiv class=\"ner-table-card\" data-table-card\u003e\n        \u003cdiv class=\"ner-table-head\"\u003e\n          \u003ch3 class=\"ner-card-title\" id=\"ner-table-title\"\u003eMonthly lease schedule\u003c\/h3\u003e\n          \u003cp class=\"ner-card-copy\"\u003eA transparent month-by-month view of billed rent, costs, concessions, and cumulative net cash.\u003c\/p\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ner-table-wrap\" data-table-wrap\u003e\n          \u003ctable class=\"ner-table\"\u003e\n            \u003cthead\u003e\n              \u003ctr\u003e\n                \u003cth scope=\"col\"\u003eMonth\u003c\/th\u003e\n                \u003cth scope=\"col\"\u003eGross scheduled\u003c\/th\u003e\n                \u003cth scope=\"col\"\u003eRent billed\u003c\/th\u003e\n                \u003cth scope=\"col\"\u003eCash allowance\u003c\/th\u003e\n                \u003cth scope=\"col\"\u003eOperating cost\u003c\/th\u003e\n                \u003cth scope=\"col\"\u003eNet cash\u003c\/th\u003e\n                \u003cth scope=\"col\"\u003eCumulative net\u003c\/th\u003e\n              \u003c\/tr\u003e\n            \u003c\/thead\u003e\n            \u003ctbody data-schedule-body\u003e\u003c\/tbody\u003e\n          \u003c\/table\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ner-table-note\" data-table-note\u003eThe timing schedule places all rent-free months at the beginning and the tenant allowance in month 1. Adjust the interpretation if the signed lease uses a different payment date.\u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/section\u003e\n\n    \u003cdetails class=\"ner-advanced\"\u003e\n      \u003csummary class=\"ner-advanced-summary\"\u003eArea-based calculation options\u003c\/summary\u003e\n      \u003cdiv class=\"ner-advanced-body\"\u003e\n        \u003cdiv class=\"ner-check-row\"\u003e\n          \u003cinput class=\"ner-checkbox\" type=\"checkbox\" id=\"ner-area-enabled\" data-field=\"areaEnabled\"\u003e\n          \u003cdiv class=\"ner-check-copy\"\u003e\n            \u003clabel class=\"ner-check-label\" for=\"ner-area-enabled\"\u003eUse rent and allowance per unit of area\u003c\/label\u003e\n            \u003cspan class=\"ner-check-help\"\u003eUseful for commercial leases quoted per square foot or square meter. Current total values are converted when this option changes.\u003c\/span\u003e\n          \u003c\/div\u003e\n        \u003c\/div\u003e\n        \u003cdiv class=\"ner-field-grid ner-area-fields\" data-area-fields\u003e\n          \u003cdiv class=\"ner-field\"\u003e\n            \u003clabel class=\"ner-label\" for=\"ner-area\"\u003eProperty area\u003c\/label\u003e\n            \u003cdiv class=\"ner-control-row\"\u003e\n              \u003cinput class=\"ner-input\" id=\"ner-area\" data-field=\"area\" data-format=\"number\" inputmode=\"decimal\" value=\"80\" aria-describedby=\"ner-area-help ner-area-error\"\u003e\n              \u003cselect class=\"ner-select ner-unit-select\" id=\"ner-area-unit\" data-field=\"areaUnit\" aria-label=\"Property area unit\"\u003e\n                \u003coption value=\"sqft\"\u003esq ft\u003c\/option\u003e\n                \u003coption value=\"sqm\" selected\u003em²\u003c\/option\u003e\n              \u003c\/select\u003e\n            \u003c\/div\u003e\n            \u003cdiv\u003e\n              \u003cp class=\"ner-helper\" id=\"ner-area-help\"\u003eEnter usable or rentable area consistently with the lease quote.\u003c\/p\u003e\n              \u003cdiv class=\"ner-error\" id=\"ner-area-error\"\u003e\u003c\/div\u003e\n            \u003c\/div\u003e\n          \u003c\/div\u003e\n          \u003cdiv class=\"ner-field\"\u003e\n            \u003cspan class=\"ner-label\"\u003eArea conversion note\u003c\/span\u003e\n            \u003cdiv class=\"ner-input\" role=\"status\" aria-live=\"polite\" data-area-note\u003e1 m² equals 10.7639 sq ft.\u003c\/div\u003e\n            \u003cp class=\"ner-helper\"\u003eChanging the area unit converts area, rent rate, and allowance rate so total economics stay unchanged.\u003c\/p\u003e\n          \u003c\/div\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/details\u003e\n\n    \u003csection class=\"ner-education\" aria-label=\"Net effective rent guide\"\u003e\n      \u003cdiv class=\"ner-education-block\"\u003e\n        \u003ch2\u003eWhat does net effective rent estimate?\u003c\/h2\u003e\n        \u003cp\u003eNet effective rent, or NER, converts a lease with concessions and landlord expenses into a single comparable rent figure. The monthly result is the average amount retained per lease month after subtracting free-rent value, a tenant cash allowance, and recurring operating costs. The annual result multiplies that monthly average by 12, even when the actual lease is shorter or longer than one year.\u003c\/p\u003e\n        \u003cp\u003eThis calculator uses a straight-line, undiscounted approach. It is designed for fast comparison of lease offers rather than present-value accounting. A long-term commercial lease may also require discounting, rent escalations, recoveries, taxes, common-area maintenance rules, and accounting treatment under the applicable lease standard.\u003c\/p\u003e\n      \u003c\/div\u003e\n\n      \u003cdiv class=\"ner-education-grid\"\u003e\n        \u003cdiv class=\"ner-education-block\"\u003e\n          \u003ch3\u003eHow should each input be used?\u003c\/h3\u003e\n          \u003cp\u003e\u003cstrong\u003eLease term\u003c\/strong\u003e is required and should cover the complete contractual period. Enter months directly or select years; the calculator converts years to the nearest whole month. A longer term usually spreads a fixed allowance across more months, which raises NER relative to an otherwise identical shorter lease.\u003c\/p\u003e\n          \u003cp\u003e\u003cstrong\u003eMonthly rent\u003c\/strong\u003e is the face or base rent before concessions. It is required for a meaningful result. In area mode, enter the monthly rate per square foot or square meter instead of the property-wide total. A higher face rent increases scheduled rent and usually increases NER dollar for dollar, unless operating costs are entered as a percentage.\u003c\/p\u003e\n          \u003cp\u003e\u003cstrong\u003eRent-free months\u003c\/strong\u003e is the count of full months with no base rent collection. It may be zero but cannot exceed the lease term. Each additional free month reduces total lease income by one full month of face rent.\u003c\/p\u003e\n          \u003cp\u003e\u003cstrong\u003eTenant cash allowance\u003c\/strong\u003e is a one-time landlord-funded credit, improvement allowance, or reimbursement. Enter the total amount, or a rate per area when area mode is enabled. Avoid double-counting the same incentive as both free rent and cash allowance.\u003c\/p\u003e\n          \u003cp\u003e\u003cstrong\u003eOperating costs\u003c\/strong\u003e are recurring monthly landlord expenses attributable to the lease. Select a percentage of face rent or a fixed dollar amount per month. Percentage mode moves with rent; fixed-dollar mode does not. For tax reporting, expense classification can differ from this economic comparison, so consult the current \u003ca href=\"https:\/\/www.irs.gov\/publications\/p527\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eIRS guidance for residential rental property\u003c\/a\u003e where relevant.\u003c\/p\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"ner-education-block\"\u003e\n          \u003ch3\u003eHow is the formula calculated?\u003c\/h3\u003e\n          \u003cp class=\"ner-formula\"\u003e\u003cstrong\u003eMonthly NER\u003c\/strong\u003e = [Monthly rent × (Lease months − Free months) − Tenant allowance − (Monthly operating cost × Lease months)] ÷ Lease months\u003c\/p\u003e\n          \u003cp\u003eThe annual NER is monthly NER × 12. Gross scheduled rent is face rent × lease months. Total concessions equal free-rent value plus the cash allowance. The effective discount compares annual NER with gross annual face rent and therefore includes both incentives and operating costs.\u003c\/p\u003e\n          \u003cp\u003eArea-based rates do not change the economics. The calculator first converts the rent rate\nand allowance rate into property-wide totals using the entered area, performs the same NER calculation, and then divides the results by area to show monthly and annual rates per square foot or square meter.\u003c\/p\u003e\n          \u003cp\u003eFor research on why effective rent can be a better comparison metric than headline rent, see the University of California paper \u003ca href=\"https:\/\/escholarship.org\/uc\/item\/40m60006\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eThe Measurement of Effective Rent\u003c\/a\u003e. The paper also illustrates why timing and valuation assumptions matter in more advanced analyses.\u003c\/p\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"ner-education-block\"\u003e\n          \u003ch3\u003eHow should the results be interpreted?\u003c\/h3\u003e\n          \u003cp\u003e\u003cstrong\u003eMonthly NER\u003c\/strong\u003e is the principal comparison number. A positive value means the lease retains income after modeled deductions. Zero means concessions and costs consume all rent. A negative value means the modeled landlord outflows exceed collected rent over the term.\u003c\/p\u003e\n          \u003cp\u003e\u003cstrong\u003eAnnual NER\u003c\/strong\u003e standardizes the monthly result to a 12-month period. \u003cstrong\u003eNet income over lease\u003c\/strong\u003e is the actual modeled total retained across the entered term. \u003cstrong\u003eGross scheduled rent\u003c\/strong\u003e shows the no-concession face-rent benchmark.\u003c\/p\u003e\n          \u003cp\u003e\u003cstrong\u003eRent concessions\u003c\/strong\u003e combines rent-free value and the tenant allowance. \u003cstrong\u003eOperating costs over lease\u003c\/strong\u003e isolates recurring modeled expenses. \u003cstrong\u003eEffective discount\u003c\/strong\u003e shows how far annual NER falls below annual face rent. A larger percentage can make leasing more competitive but reduces economic rent.\u003c\/p\u003e\n          \u003cp\u003eIn area mode, the per-area outputs help compare different-sized spaces. Always use the same area convention across alternatives: rentable area and usable area are not interchangeable.\u003c\/p\u003e\n        \u003c\/div\u003e\n\n        \u003cdiv class=\"ner-education-block\"\u003e\n          \u003ch3\u003eWhat do the chart and schedule show?\u003c\/h3\u003e\n          \u003cp\u003eThe allocation donut reconciles gross scheduled rent into retained lease income, rent-free value, tenant allowance, and operating costs. Every visible segment, legend amount, and percentage comes from the same live model. If deductions exceed scheduled rent, the donut is replaced by a compact message because a negative segment cannot be represented honestly.\u003c\/p\u003e\n          \u003cp\u003eThe cumulative chart compares gross scheduled rent, cumulative net cash, and cumulative deductions. The schedule assumes free months come first and the allowance is paid in month 1. These timing choices help visualize cash flow but do not change the straight-line NER result. Review the monthly table to see the exact source values behind the chart.\u003c\/p\u003e\n          \u003cp\u003eCommon mistakes include using a marketing concession period that differs from the legal lease term, treating “eight weeks free” as exactly two months, omitting recurring landlord costs, mixing monthly and annual quotes, or comparing per-square-foot and per-square-meter rates without conversion. For formal financial statements, confirm the relevant requirements with the \u003ca href=\"https:\/\/www.fasb.org\/page\/PageContent?pageId=\/projects\/active-projects\/leases.html\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eFinancial Accounting Standards Board lease resources\u003c\/a\u003e or the applicable local standard.\u003c\/p\u003e\n        \u003c\/div\u003e\n      \u003c\/div\u003e\n    \u003c\/section\u003e\n  \u003c\/div\u003e\n\u003c\/div\u003e","brand":"FinancialModelsLab","offers":[{"title":"Default Title","offer_id":49909481177331,"sku":"net-effective-rent","price":0.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0522\/6191\/2762\/files\/net-effective-rent.webp?v=1783935387","url":"https:\/\/financialmodelslab.com\/products\/net-effective-rent","provider":"Financial Models Lab","version":"1.0","type":"link"}