How are you? I hope you're doing well.
With regard to rentals, "net effective" refers to the TOTAL amount of rent that a tenant will pay over the entire length of their lease. Ie: A $3000/mo rental with a 1 month free promotion from the landlord will give you a NET EFFECTIVE rent of $33,000 if it's a 12 month lease. This is because technically you're only paying for 11 months instead of 12.
With regards to "it may be amortized" --- that's not relative to rentals. That statement is more relative to sales. Ie: In the banking industry, an amortizing loan is when the principal is paid down over the life of the loan.
Hope this information is helpful to you. I wish you all the best :-)
Licensed Real Estate Broker
Gorick Realty, Inc.
View listings at http://www.gorickrealty.com
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