How to Model Rent Yearly Rent Increases Considering Absorption

Afternoon folks,

Working through a multi-unit development case rent now and I'm curious how you go about modelling rent increases while taking into account absorption. I've got rent increases of yearly 2% increases, with 25 unit absorption per month from development completion.

Here's how I have it set currently:

(1+Growth Rate)^IFERROR(ROUNDUP((Dev. Completion Month-Current Month +1)/(Compounding Frequency*12),0)-1,0)

Using the current method tenants who sign towards the end of the year don't have growth applied on a pro rata basis

Any help would be much appreciated.

PDG