SOLUTION: Greg owns a rental property in Beaufort SC.His mortgage , insurance,and HOA fees total up to $1,100 per month. In addition he's expecting the following maintenance expenses over th

Question 1181036: Greg owns a rental property in Beaufort SC.His mortgage , insurance,and HOA fees total up to $1,100 per month. In addition he's expecting the following maintenance expenses over the next year.
Furnace replacement:$5,000
Gutters replacement:$2,000
Landscaping:$1,500
What's is the minimum monthly rent Greg should charging his tenants for the next year,just to break even
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
.


First, calculate all his expenses for the property during the year


    12*1100 + 5000 + 2000 + 1500 =  21700  dollars.


Next, divide it by 12 (the number of months in the year).



The quotient which you obtain, will be your answer (if you manage to do all calculations correctly).

You are instructed - - - so, I completed my job as a tutor.

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