What is the monthly rent for an office space measuring 30ft X 45ft with a yearly rent of $7.50/sq. ft.?

Prepare for the Montana Property Management Exam. Discover comprehensive flashcards and multiple-choice questions, with hints and detailed explanations. Excel in your exam journey!

To determine the monthly rent for the office space, start by calculating the total area of the office in square feet. The formula for area is:

Area = Length x Width.

Here, the length is 30 feet and the width is 45 feet. Thus, the area is:

Area = 30 ft x 45 ft = 1350 sq. ft.

Next, to find the yearly rent, multiply the total area by the yearly rent per square foot:

Yearly Rent = Area x Yearly Rent per sq. ft. = 1350 sq. ft. x $7.50/sq. ft. = $10,125.

Then, convert the yearly rent to monthly rent by dividing the yearly total by 12:

Monthly Rent = Yearly Rent / 12 = $10,125 / 12 = $843.75.

This calculation confirms that the monthly rent for the office space is indeed $843.75. Thus, the correct answer is reflected in this calculation, aligning with the understanding of how to compute rent based on area and price per square foot.

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