How do you work out the last rent payment

I have a rental lease with one of my tenants that ends on the 19th Dec and when she gave me notice to vacate, I gave her the list of instruction to vacate which contains that she need to pay rent until the 19th Dec.

I did this to all previous tenants and also when I myself rented long time ago because my understanding is tenant to pay rent until the date the lease expires.

But this particular tenant only deposited rent up to the 18th. She is still going to be sleeping in the house on the 18th night and we will do the final inspection on the 19th, the day her lease ends.

What is the correct way? I would appreciate your response, particularly if you are managing rental property.

Regards
MKP
 
You need to charge her one day's rent.

This will change depending on how you charge the rent, in Vic it's on a calendar month basis. Ie.

$1500/m x 12 / 365 = $49.32/day - if the tenant had more than one day left, then you'd x that amount by number of days.

If it's weekly, then divide weekly rent by 7 and so on.

If she doesn't pay prior to vacating, take it out of the bond. Simple.
 
Thanks Lil Skater,
So to confirmed, tenant needs to pay up to and including the day their lease expires (in this case the 19th). That is what I thought and normally did to previous tenants.

The weekly rent = $175 (daily is $25). From her last rent payment, he has 8 days to go until (including) the 19th Dec. But she only paid $175 ( up to and including the 18th Dec).

Now I can explain this to her and let her know that the one day rent will be taken off her bond money.

Thanks again.
MKP







You need to charge her one day's rent.

This will change depending on how you charge the rent, in Vic it's on a calendar month basis. Ie.

$1500/m x 12 / 365 = $49.32/day - if the tenant had more than one day left, then you'd x that amount by number of days.

If it's weekly, then divide weekly rent by 7 and so on.

If she doesn't pay prior to vacating, take it out of the bond. Simple.
 
Yep that's right, the day the keys come back.

For future reference, and I don't know if this is what you did or not, but if the lease agreement is 12 months, it should be from 19th Dec 2014-18th Dec 2015.

As the rent is always due on the 19th and that would make it exactly 12 months. This way, if someone vacates on the end date of the lease, you wouldn't need to calculate a daily rate.
 
That is agood point, but we did not do. The end of the lease was based on 'tenant's request and it happenned to be just the one day above the normal weekly rent.
Will certainly used this in the future.



Yep that's right, the day the keys come back.

For future reference, and I don't know if this is what you did or not, but if the lease agreement is 12 months, it should be from 19th Dec 2014-18th Dec 2015.

As the rent is always due on the 19th and that would make it exactly 12 months. This way, if someone vacates on the end date of the lease, you wouldn't need to calculate a daily rate.
 
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It's fair to ask the tenant for full payment according to the terms of the lease, just as you as a landlord are expected to provide the premises for the full time period specified in the lease. Most tenants don't want their record to show a deduction to the bond so payment of $25 is fair and reasonable, suggest you just treat it as on oversight that the good tenant will want to rectify.
Good luck
Cheers
crest133
 
All sorted with a happy ending :). I got an email from FT confirming Lil Skater's advise; showed it to tenant, all good. I think the problem was with the counting of days. Tenants equates Fri to Fri period as = 7 days; and she had to use 'counting by finger method' to see it is actually 7+1. So as in Lil Skater's good post, in the future I will plan ahead with dates to make it easier for all.


It's fair to ask the tenant for full payment according to the terms of the lease, just as you as a landlord are expected to provide the premises for the full time period specified in the lease. Most tenants don't want their record to show a deduction to the bond so payment of $25 is fair and reasonable, suggest you just treat it as on oversight that the good tenant will want to rectify.
Good luck
Cheers
crest133
 
Hi MKP,

Considering the tenant is pretty good at counting toilet papers (hope I didn't confuse it with some other post/thread) it's a bit of a surprise she couldn't count Fri-Fri? :p
 
Yes, you are on the right thread J_aco; there was some toilet paper counting involved, but sometime its easy to get confused with simple things :) its an interesting side of being human. The funnier part was she could not work it out using calendar, over and over she just could not get it; I was saved by fingers :)

Hi MKP,

Considering the tenant is pretty good at counting toilet papers (hope I didn't confuse it with some other post/thread) it's a bit of a surprise she couldn't count Fri-Fri? :p
 
Yes, you are on the right thread J_aco; there was some toilet paper counting involved, but sometime its easy to get confused with simple things :) its an interesting side of being human. The funnier part was she could not work it out using calendar, over and over she just could not get it; I was saved by fingers :)

Sorry, but my curiosity is getting the better of me...what about the toilet paper?
 
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