Is there a rule of thumb formula for rent.

[Superstitionist]

Let's say the weekly rent for a year fixed agreement is $200.

In general, is there a magic formula to work out the rent for half yearly, 3 months, or monthly, etc...???

Super.

 

[LeeF]

uhmm, not sure what you mean?

$200 x 26 = $5200 - half yearly... and so on....

 

[wylie]

We have tenants who pay rent monthly.

Rent x 52 divided by 12

Wylie

 

[Superstitionist]

Sorry for the confusion.

I mean the rental agreement which is not in yearly, but is in half year, 3 months or less.

For example:
A yearly agreement, we may charge $200pw
Half year agreement, we may charge $210pw
3 months agreement, we may charge $220pw
1 month agreement, we may charge $230pw

I would like to know if there is any formula to work out the figure, something like plus or minus a certain percentage based on number of months for the agreement...?

 

[redsquash]

Depends how greedy you want to be.
depends on supply and demand for your area at a particular time of the year.
Its your choice and others can accept or reject the offer.

The price difference for me would be almost immaterial as long as it was within reason and I could get a 3 month lease.

 

[simonjulie]

Rent is worked out on a daily basis. There are slightly over 52 weeks in one year so it is better to times the daily amount by 365 then divide that amount by 12 to get an equal monthly amount.
Attached is a rental calculator on an excel spread sheet.
Just type in the weekly rental amount and the calculator will do the rest.
Enjoy

 

[sailor]

Sometimes people charge more rent for shorter leases, because of the costs involved in tenant changeover. You could always add those costs onto the rent charged.