If the value of a property is 1,200,000 and the gross monthly rent is 8,500, what is the Monthly Rent Factor (MRF)?

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Study for the Manitoba Real Estate Exam Module 1. Prepare with comprehensive multiple choice questions and detailed explanations. Ace your exam and start your real estate career!

Multiple Choice

If the value of a property is 1,200,000 and the gross monthly rent is 8,500, what is the Monthly Rent Factor (MRF)?

Explanation:
Monthly Rent Factor shows how many dollars of property value correspond to each dollar of gross monthly rent. It’s found by dividing the property’s value by the gross monthly rent. So, 1,200,000 divided by 8,500 equals 141.176..., which rounds to 141.18 to two decimals. Therefore, the Monthly Rent Factor is 141.18.

Monthly Rent Factor shows how many dollars of property value correspond to each dollar of gross monthly rent. It’s found by dividing the property’s value by the gross monthly rent.

So, 1,200,000 divided by 8,500 equals 141.176..., which rounds to 141.18 to two decimals. Therefore, the Monthly Rent Factor is 141.18.

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