Property Management

A Nebraska lease includes a rent escalation clause tied to the CPI. If CPI increases 3% and monthly rent is $1,200, the new rent is:

A$1,200
B$1,224✓ Correct
C$1,236
D$1,260

Explanation

New rent = $1,200 × (1 + 3%) = $1,200 × 1.03 = $1,236.

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