Shared Ownership Rent Calculator

Formula

To calculate the Shared Ownership Rent:

\[ SOR = V \times 0.03 \times \frac{OS}{100} \]

Where:

$SOR$ is the Shared Ownership Rent ($/year)
$V$ is the property value ($)
$OS$ is the ownership share (%)

Shared Ownership Rent Definition

Shared ownership rent refers to the rent paid by a person who owns a share of a property. The rent is calculated based on the value of the property and the percentage of the property that the person owns.

Example Calculation 1

Let's assume the following values:

Property Value ($V$) = $300,000
Ownership Share ($OS$) = 50%

Using the formula:

\[ SOR = 300000 \times 0.03 \times \frac{50}{100} = 4500 \]

The shared ownership rent is $4,500 per year.

Example Calculation 2

Let's assume the following values:

Property Value ($V$) = $500,000
Ownership Share ($OS$) = 25%

Using the formula:

\[ SOR = 500000 \times 0.03 \times \frac{25}{100} = 3750 \]

The shared ownership rent is $3,750 per year.