To calculate the rent per square foot:
\[ \frac{R}{\text{SQFT}} = \frac{TR}{SQF} \]
Where:
The rent per square foot is a measure of the cost of renting space, expressed in terms of the amount charged per square foot of the total area. This metric helps compare rental costs between different properties and provides a standardized way to assess rental expenses. It is calculated by dividing the total rent by the total square footage of the space being rented.
Assume the following values:
**Step 1:** Calculate the rent per square foot:
\[ \frac{R}{\text{SQFT}} = \frac{1200}{800} = 1.50 \]
The Rent Per Square Foot is $1.50 /ft².
Assume the following values:
**Step 1:** Calculate the rent per square foot:
\[ \frac{R}{\text{SQFT}} = \frac{900}{600} = 1.50 \]
The Rent Per Square Foot is $1.50 /ft².