PDA

View Full Version : Have I paid right?



Nutrance
06-12-2011, 18:06 PM
Hi,

I pay £550 per calender month.

My LL agreed to give me a 2 week rent reduction for inconvenience. The month this was due for reduction was during november.

Can someone tell me how much rent I should have paid???

Ill let you know what i paid when you give me the answer

Thankyou

Mrs Mug
06-12-2011, 18:12 PM
Can someone tell me how much rent I should have paid???

£296.85 ......

Nutrance
06-12-2011, 18:15 PM
£296.85 ......

Hi would you mind telling me how you worked it out?

jta
06-12-2011, 18:19 PM
Hmm! I make it 253.16.

Paul_f
06-12-2011, 18:20 PM
I think this was a tongue-in-cheek reply as you can work it out for yourself. You've got 10 fingers and 10 toes should you need them. Are you really that dim? It's so easy I am laughing.

ram
06-12-2011, 18:28 PM
£550 x 12 months divided 52 weeks x 2 weeks = £ 253.84

So 550-253.84 = £ 296.16 rent to be paid. ( Not 253 )

Question was how much monthly rent do I have to pay, and not how
much is 2 weeks rent.

Typical exam question, !

Mrs Mug
06-12-2011, 18:28 PM
Hi would you mind telling me how you worked it out?

£550 - £(((550 x 12) / 365) x 14)

£550 - £253.15 = £296.85

jta
06-12-2011, 18:32 PM
Ha ha, when I was a kid I was once encouraged to be an accountant, good job I didn't take it up as the country would have been bankrupt a lot earlier.

Banzai
06-12-2011, 18:43 PM
£296.15384615384615384615384615385 (Roughly)

Mrs Mug
06-12-2011, 19:03 PM
Ill let you know what i paid when you give me the answer

So how much did you pay?, and how much did you think you should have paid?

Nutrance
06-12-2011, 19:15 PM
Well I did it like this (rounded).....

550 x 12 = 6600 Annual rate after 12 payments

6600/365 = 18.08 Daily rate.

18.08 x 30 = 542.3 (30 days in November)

18.08 x 14 = 253.12 (the two weeks i get free)

542.3 - 253.12 = 289.18 Which is how much i paid.

Ericthelobster
06-12-2011, 19:26 PM
[...]
18.08 x 30 = 542.3 (30 days in November)

18.08 x 14 = 253.12 (the two weeks i get free)

542.3 - 253.12 = 289.18 Which is how much i paid.

No your method is fundamentally wrong, in the sense that it is based around you paying a different amount for the calendar month of November (£542.30) than the actual amount (£550.00).

theartfullodger
06-12-2011, 19:26 PM
You'd be better off deciding the inconvenience was in February, then on the basis of your logic that would be only £253:15 .. ((550*12*14)/365).,...

Nutrance
06-12-2011, 19:29 PM
Yeah i thought so.....I took as a month not the whole year figure etc... The letting agent could have told me what i had to pay though lol..

Thanks though ill ring them tomorrow, being as they havent contacted me yet to say i owe them some money!

:=-:

Mrs Mug
06-12-2011, 19:33 PM
The letting agent could have told me what i had to pay though lol..

What makes you think they know how to calculate the right amount?

The good news is that you were only out by £7.

Nutrance
06-12-2011, 19:36 PM
Surely a Large Estate agents would know! But then again......

Mrs Mug
06-12-2011, 19:47 PM
Surely a Large Estate agents would know!

Go and have a read of the "Lettings Agents Forum" for an education about lettings agents.