Tim owns an apartment complex. The lease agreement requires new tenants to pay the first month's rent $($$$5,000)$ as well as the last month$$s rent $($$$5,222),$ a $$9,000$ security deposit $($refundable when they move out$)$ and a $$700$ cleaning deposit at the inception of the lease. The cleaning deposit is returned only if the tenants move out and leave their apartment in good condition. If the apartment is not in good condition, Tim hires a cleaning company and uses the tenants$$ deposit to pay the cleaning bill, with any excess deposit returned. How much GI$?$ Show your calculation.

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To calculate the Gross Income GI based on the lease agreement ... View the full answer