I am calculating the implied Market Rent Growth (%) for a Same Store Growth and Asset Summary analysis. I know the Excel formula is: =IFERROR((Average Prior Rent + Rent Lift Over Prior Rent Lift Over Unrenovated Market Rent) / Average Prior Rent - 1). Why do I have to subtract the 1 at the end and what does that do? Could you please explain using another example as well?

Computer Networking: A Top-Down Approach (7th Edition)
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ISBN:9780133594140
Author:James Kurose, Keith Ross
Publisher:James Kurose, Keith Ross
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I am calculating the implied Market Rent
Growth (%) for a Same Store Growth and Asset
Summary analysis. I know the Excel formula is:
=IFERROR((Average Prior Rent + Rent Lift Over
Prior Rent Lift Over Unrenovated Market Rent)
/ Average Prior Rent - 1). Why do I have to
subtract the 1 at the end and what does that
do? Could you please explain using another
example as well?
Transcribed Image Text:I am calculating the implied Market Rent Growth (%) for a Same Store Growth and Asset Summary analysis. I know the Excel formula is: =IFERROR((Average Prior Rent + Rent Lift Over Prior Rent Lift Over Unrenovated Market Rent) / Average Prior Rent - 1). Why do I have to subtract the 1 at the end and what does that do? Could you please explain using another example as well?
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