UK Landlord Forum / Life

I have a tenant that wants to move in and we have an agreed rental payment from when they move in. We have agreed on a moving in date.  However, they have said that subsequent rental payments would be 10 days later than the initial payment due to when their income is paid in (i.e. they move in on 1st Dec at an agreed rental of say £1000 but subsequent rentals would be on their pay day which is say 11th of every month. I have asked that they pay the 10 days' difference as advance rental to cover the 10 days and the rest would be as per contract and they are agreed on this.  I cannot work out the calculation :-(.  Should rent be calculated on 365 or 365 days a year???

Any advice/help would be hugely appreciated.

Or you could just leave it as it is and accept that the payments are only ~20 days in advance instead of 30 ?

£1000pcm x 12 = £12,000/year

£12,000/365 = £32.88 per day.

If you let them stay for "free" for 10 days, that equates to £328.76 you'll be out of pocket for.

Quote from: silversurfer on November 16, 2014, 05:23:53 PMShould rent be calculated on 365 or 365 days a year???

365 days per year, for sure.

Well strictly I suppose 365.250002

Or 365!