Why compare on 24-month cost?
When you’re down to a few buildings on the New Build Board, the headline special stops being useful. Specials lower year one only, and renewals price from base rent. A 24-month view puts both years in one number, along with everything else you’d pay. It’s the fairest way we know to rank a shortlist.
Here’s the formula we use:
24-month total = move-in cash + year one after the special + required fees + tolls and parking + year two at 0% and +3%
Step 1: Move-in cash
List what’s due at signing for each building: deposit, application and admin fees, first month or a prorated month, and any pet fee. Some specials are applied up front as free months, which lowers move-in cash. Others are spread across the lease.
Step 2: Year one after the special
Turn each special into net effective rent. N weeks free equals base × 12 ÷ 52 × N. Net effective equals base × months, minus the free rent, divided by months. On Oct 25, 2026, Domain Benbrook’s $1,320 base with 6 weeks free on 12 months came to $1,167.69 a month. That’s a dated illustration, not a live price. If you’re weighing a house too, our guide on built-to-rent homes vs. new apartments covers how those costs compare.
Step 3: Required fees
Add every required monthly fee: bulk internet, valet trash, pest, and any others. At 12 board buildings on Oct 25, 2026, they ran $36 to $199 a month. Over 24 months, a $100 difference in fees is $2,400.
Step 4: Tolls and parking
If your commute uses a toll road or managed lane, add it. The Chisholm Trail Parkway runs 22 cents a mile with a TollTag, and a daily commute from the Cleburne end is $286.02 a month (NTTA, Jul 1, 2025). Our guide on toll costs shows how to figure your own. Add parking if it’s a separate monthly line.
Step 5: Year two at 0% and +3%
Year two starts from base rent, plus fees. We show it two ways: if the base holds, and if it rises 3%. For the Domain Benbrook illustration, that’s $1,426 a month at 0% and $1,465.60 at +3%.
A worked comparison
Here’s a labeled illustration with two made-up buildings, to show how the ranking can flip. These are example numbers only.
| Building A | Building B | |
|---|---|---|
| Base rent | $1,400 | $1,300 |
| Special | 10 weeks free, 12 months | 4 weeks free, 12 months |
| Year one net effective | about $1,131 | about $1,200 |
| Required fees | $150 | $60 |
| Tolls | $0 | $0 |
| Year one monthly total | about $1,281 | about $1,260 |
| Year two at 0% (base + fees) | $1,550 | $1,360 |
| 24-month total, before move-in cash | about $33,969 | about $31,440 |
Building A has the bigger special, and it costs about $2,500 more over two years. That’s the pattern a 24-month view catches.
The payback warning
If a concession addendum asks you to repay free rent when you leave early, a deep special carries more risk. We flag it on every comparison.
Common mistakes when comparing buildings
These are the slips we see most when renters rank a shortlist on their own:
- Comparing net effective without fees. Two buildings with the same net effective can differ by $100 or more in required fees.
- Using the floor plan’s lowest price. The unit you want may carry a premium for floor, view, or corner position.
- Forgetting the term. A special on 15 months spreads free rent over three more months.
- Leaving out the commute. Tolls and parking belong in the monthly total.
- Ignoring move-in cash. An up-front special lowers what’s due at signing, which matters if cash is tight.
- Skipping the payback warning. If you might leave early, a deep special with a repayment clause carries more risk.
A simple habit fixes most of these: put every building on the same sheet, with the same lines, filled from written quotes. If a number is missing, mark it “confirming” and get it before you decide.
How do you run this for your shortlist?
Our compare buildings tool puts two to four buildings side by side with these lines filled in. Or send us your list, and we’ll collect the fee sheets, confirm each special, add your commute, and send the 24-month totals the same day during our hours.
