Asking rent
If something says asking rent is x per sf with no time period, is it just assumed that it is the monthly rate?
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Depends on the asset class. Industrial speaks in monthly rates. Office and Retail speak in annual rates. Multifamily speaks in monthly price per unit.
So, I used to believe that Apartments were only one to quote monthly, all commercial did annually. But, I've now found that in some markets the convention is monthly psf for commercial also, most annual I'd say. When I see rents in a presentation or model from some of our markets I have to do a double take, this is just less standard than most realize (but probably universal in a given market).
MF can be monthly or yearly (you'll know which one by context) and generally for everything else its yearly except for California who often quote monthly rates PSF.
Cali bros LOVE monthly/SF
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