One of the most frequent questions we are asked is how do we calculate the monthly rent.
Rent is paid on a common date each month, lets take as example a rent of $700 per week. We take the weekly rent, and divide it by 7 days - so that is $100 per day.
We then multiply this number by the total days in the year - so that is $36,500
We then divide by an even 12 months, this equals $3,041.66.
Given that not all months have equal days, this method allows for one payment to average out all the months. We hope that you have found this video useful.
Please visit neeshproperty.com.au with further questions.