Let’s break down those terms:
PSF (Per Square Foot):
PSF stands for “per square foot.” It’s a common way to express the rental value of commercial or residential properties.
In your example, the listing mentions “$3.02 psf (built-in).” This means that the monthly rent is calculated based on the size of the property (829 square feet or 77 square meters).
To find the monthly base rental rate, multiply the PSF by the total area: Monthly Rent=PSF×Area
In this case: Monthly Rent=3.02×829=$2,500
Built-In:
The term “built-in” refers to the usable interior space of the property. It includes rooms, living areas, and other enclosed spaces.
It excludes common areas, balconies, or external features.
So, the $2,500 monthly rent covers the built-in area of 829 square feet.
Additional Charges:
While the $2,500 is the base rent, there might be other costs:
>>Utilities: You’ll likely need to pay for electricity, water, and gas separately.
>>Stamp Duty: When signing the lease, there may be a one-time stamp duty fee.
>>Security Deposit: Typically, tenants pay a security deposit (usually one to two months’ rent) upfront.
Agent Fees: If an agent facilitated the rental, there might be agent fees (usually borne by the landlord).
>>Remember to clarify these details with the landlord or agent to ensure a clear understanding of all costs.
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