Read about our Rent Calculator before you proceed.
Monthly Rent Calculator
When renting a place, not only to live in for a period of time, but even if you’re staying at a place just for a few weeks, one thing is a guarantee, and that is rent. Every month or week depending on the deal, paying rent to the landlord goes without saying. The common contract agreement of payment is usually per month, or per week depending on the agreement. Tenants are required to pay the rent on time and in the full amount, unless other arrangements are made. However if the renters abuse this privilege, landlords are allowed to take action on failure to pay the rent on the exact date and the exact amount.
There are different agreements between tenant and landlord depending on the contract that is agreed upon. This is normally called residential tenancy agreement on which you can talk about the method of payment, the due date on when you can pay, and the rules in staying.
Upon paying the rent in person, tenants usually receive a receipt from the landlord. Other than that if you can’t pay in person, you can ask for the receipt later by including the request in a stamped envelope with the payment included. The landlords must at all times keep the receipt until the tenants can collect them, generally up to 12 months after the monthly payment.
When you rent a place by yourself, you don’t have the difficult task of dividing the rent into portions or even by weeks, you can pay the rent with no problems. However, if you share the rent with many roommates, you will eventually have to calculate and divide the amount of payment. An easy way to do the computing is by using the Monthly Rent Calculator. This calculator can compute the amount each person has to pay depending on the number of people renting the location.
The way this calculator works is first you must enter the amount of rent in the first box. Then in the second box, you enter the number of people renting the place or the people dividing the payment. When you click the calculate button, you will have the result of each person’s monthly rent as well as the weekly rent.
For example let’s use the Monthly Rent Calculator to figure out what a group of five friends that rent a 5 five bedroom place that costs $600 a week. If you want to know how much to divide the monthly payment price as well as want to know how much they will spend in the month; in the first box enter the rent in months which for this example use $2,400. Next in the second box, enter how many people share the place which is 5. By clicking the calculate button, you will have $480.00 each person. As an added bonus the Monthly Rent Calculator breaks this down to $110.77 per week.
This is just a basic example of the calculator; you can try many situations such as a group of 7 people renting a house for the week, or just a couple sharing a flat or condominium for the month.
Our free calculators are digital online gadgets that were built to perform specific calculations for various actions. They were programmed to work just like regular calculators with two goals in mind – to provide you with the necessary information and assisting you to make better choices in life.