How Rent is Calculated

The @ Real Estate Property Managers, Troy and Karin often get asked questions about how rent is calculated, such as "where am I up to?" and "why is there a part payment?”.  It’s important to remember rent is calculated daily payable weekly/fortnightly/monthly depending on your lease.

For example, if rent is $700 per week, rent would be calculated at $100 per day.
Before tenants move into a property most agencies would ask for bond (of 4 weeks rent) plus the first 2 weeks rent.  If the tenant starts paying weekly rent the day they pick the keys up they will stay 2 weeks ahead at the end for the first week of renting.

@ Real Estate would normal start a lease on a Friday and finish on a Monday allowing tenants the weekend to move in or move out and have the property clean and tidy as per the entry condition report plus wear and tear.  If a tenant pays extra rent or more or less than the weekly rent they will have a part payment which means they don’t have a full week’s payment to be calculated.