The manager of 100 apartments knows that at $600 rent per month all apartment will be rented?
Let x = the number of $25 increases 600 + 25x = rent per apt. 100 - x = number rented Revenue = number rented • price per apt. R = (100 - x)(600 + 25x) R = 60000 + 2500x - 600x - 25x^2 R = 60000 + 1900x - 25x^2 and if R = ax^2 + bx + c, ahen a < 0, the max happens when x = -b / (2a), right? So that's -1900 / (2 • -25) = -1900 / -50 = 38; use that to answer the questions.
The manager of a 100unit apartment complex knows from experience that all units will be occupied if the rent..?
what class is this for, because that can change how the question is answered. Is this calculus or algebra (the answer will still be the same, but method is different) either was lets create our formula revenue = rent * # of occupied apartments Our base rent is $800 since $800 gives us full complex, so it wouldn't make much sense to charge any less, and we are going to increase it by $10 increments so rent = 800 +10x where x is how many times we add $10 to the already existing $800 rent we know that for every time we increase x by 1 (or charge 10 more dollars) we lose 1 occupancy So # of occupied apartments = 100 - x Our formula is now: y = (800 + 10x) (100 - x) Done the Algebra way: y = (800 + 10 x) (100 - x) our max is located halfway between the zeros (where the graph crosses the x-axis) 800+ 100 x = 0 10 x = -800 x = -80 100 - x = 0 x = 100 Our max is halfway so: x(max) = (-80+100)/2 = 20/2 = 10 so x = 10. Plug that back into our rent formula of (800 +10x) and we get $900 as the rent Calculus way: y = (800 + 10 x) (100 - x) y = 80000 - 800x+1000x -10x^2 y= 80000+200x-10x^2 take the derivative y'=200-20x max (or min) happens when y' = 0 0 = 200 - 20x -200 = -20x x = 10 Again, plug that into our rent formula of rent = (800 + 10x) and we get $900
How strict are apartments concerning income requirements?
Every landlord and tenant is different. There are tenants who may be well qualified upon application and then lose their job or have some other major setback three weeks later. There are tenants who have corporate backing and rent two or three apartments at the same time, in different cities. There are landlords who live on the edge of bankruptcy and count on regular rent checks to keep them afloat. There are landlords with corporate or personal wealth that gives them more leeway in the cash flow. I know one landlord renting out three places to the quasi-homeless, and they might let unpaid rent slide for months at a time. Others would serve you with an eviction notice four days into the first time you can't make rent. Bottom line: Every situation is different and the 3x rent might not apply in all situations, although it probably does in most cases, just as a preliminary filter for those totally unqualified. For instance, if you clearly can't afford $25,000 a month, there are apartment landlords in Tokyo that probably wouldn't even talk to you, and others who would politely refer you to something more within your means.
Why is a 4 bedroom apartment price is lower then the 2 bedroom apartment?
Well me and my friend we were looking at apartment near csu fresno state. we were suprised and dont know and got confuse with there price. like for example Apartment 1 1 0 472 $815 Per Month $100 Apartment 2 1 0 906 $600 Per Month $100 Apartment 2 2 0 964 $625-700 Per Month $100 Apartment 4 3 0 1321 $550-575 Per Month $100 Apartment 4 4 0 1395 $575-700 Per Month $100 Apartment 4 4 0 1348 $575 Per Month $100 Apartment 4 4 0 1435 $575-700 Per Month $100 if your confuse here is the link http://www.apartmentguide.com/apartments/California/Fresno/Palazzo-at-Campus-Pointe/88076/ can someone explain to me y its cheeper for a 4 bedroom 4 bathroom apartment
Yes, there are $1M homes that rent for $3,000/month in Silicon Valley.In fact, I have handled some rentals exactly like that. Those homes lie within a particular intersection of the rental market.On the rental rate dimension, two bedroom condos typically range from $2,200-4,500 per month. While there are some that go over $5K a month in San Francisco, that's not part of Silicon Valley.On the market price dimension, two bedroom rental condo prices range from $450K-$1.5M.While rental rates tend to track proportionately with the property price, as would be expected for an efficient market, there are pockets where investor demand outstrips rental demand.For example, there are pockets around Cupertino, Santa Clara, and Sunnyvale where investors eagerly snatch up "affordable" two-bedroom condos for $1M, many with all cash, in anticipation of further price appreciation from the proximity to the Apple spaceship. While the market trends would suggest at least $4,000/month as fair market rent, these novice investors often try to save money by finding their own tenants and end up frustrated and low-balling the rent to $3,000/month to get cash flow.So, for those tenants adventurous enough to hunt down these kinds of landlords, often absentee and inexperienced, it is possible to rent a modest two bedroom $1M condo like this for $3,000/month:https://www.redfin.com/CA/Sunnyvale/880-E-Fremont-Ave-94087/unit-714/home/2124019?Of course, with this kind of discounted situation, competent property management should not be expected.
Not at all. Let’s look at you, Mr. Renter, who is applying to rent an apartment for $1000/month. Now let’s say that his income is $2000/month (2x the rent).Mr. Renter’s IncomeGross income: $2000Mr. Renter’s Taxes (30%): -$600Take home pay: $1400Now let’s start paying the bills:Rent: $1000 (This is what you’re trying to rent)Utilities: $50 (You wear 3 layers of clothing inside in the winter)Cable & Internet: $75 (Well, very basic cable and slow broadband)Mobile Phone: $50 (Cricket Wireless is good enough, right?)Car Payment: $200 (Shabby Chic is in, right?)Car Insurance: $25 ($4,000 deductibles are cool, right?)Crap, Mr. Renter, you just ran out of money. That’s $1400. There are a few other things you need every month.Gas: $50 (You live really close to work, right?)Car Maintenance: $25 (You don’t need tires and an alignment today, but it’s coming and you need to save for it)Credit Cards: $50 (You know you have them and you have to pay up)Food: $100 (You can do amazing things with ramen)Necessities: $25 (Toilet paper, soap, cleaning supplies, make-up, deodorant, etc.)Clothing: $25 (Things wear out)Fun: $100 (Want to take out a date to dinner, go see a couple movies?)Ok, we’re up to $1825 now. That’s a bit more of a comfortable lifestyle, but what if you want a future?Medical insurance: $50 (Yeah, so there’s that get sick thing)Investments/Savings: $100 (You can’t get ahead if you can’t put some back for the future)School Loans: $100 (Deferment doesn’t last forever)So, we’re hitting $2075/month.Hmmm… Well 3x of the rent is $3000. Take out the $900 in taxes and you get $2100!YMMV, but if you make less than 3x the rent, you are very unlikely to actually be able to afford it.
If I don't make 3X the rent in income, can I still be approved for this apartment?
cosigner or lying about income is irrelevant - if you only make 1.5 times the rent, you will probably not even be able to pay rent, utilities and food, never mind all the other expenses involved (transportation, medical, car insurance (you will have to be on your own policy - very expensive for a 19 yr old) if you have a car, if you are going to school full time, the last thing you need to be worrying about is living expenses - utilities will probably be $50-150 a month depending on season, food is at least 120+ a month and that's eating very cheaply, won't you need a phone, and internet access as a student - easily $75-100 for those two combined - all that already puts you up to around $1000 a month, not even counting transportation costs, entertainment, emergency savings, health insurance, etc.