Some Tenants have no clue how rent is calculated - they immediately suspect the landlord of being dishonest!
Well here it is folks:
Let us say that rent is $150.00 per week
Please understand how Rent is Calculated: in regards to weekly versus monthly!
You do not take weekly X 4 to = month. You do not take weekly x 5 to = month. It is calculated on how many weeks are in One Year.
$150.00 per week multiplied by 52 weeks in a year then divided by 12 months in a year and that is how monthly rent is calculated.
Taking weekly x 4 weeks in a month would only result in 48 versus 52 weeks in one year. Taking some months with 4 weeks and others with 5 weeks would result in an obscure number of weeks! Only February on certain years has exactly 4 weeks.
So in this instance: Rent would be $150.00 per week or $650.00 per month
Calculated as such:
$150.00 per week X 52 weeks in a year = $7,800.00 for a full year
Full year of $7,800.00 / 12 months in a year = $650.00 for a full month
End of story - Landlords are not being dishonest when you are unable to do the math resulting in 52 weeks and/or 12 months in a!
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