Have I paid right?

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  • Have I paid right?

    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

  • #2
    Originally posted by Nutrance View Post
    Can someone tell me how much rent I should have paid???
    £296.85 ......

    Comment


    • #3
      Originally posted by Mrs Mug View Post
      £296.85 ......
      Hi would you mind telling me how you worked it out?

      Comment


      • #4
        Hmm! I make it 253.16.
        I offer no guarantee that anything I say is correct. wysiwyg

        Comment


        • #5
          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.
          The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

          Comment


          • #6
            £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, !

            Comment


            • #7
              Originally posted by Nutrance View Post
              Hi would you mind telling me how you worked it out?
              £550 - £(((550 x 12) / 365) x 14)

              £550 - £253.15 = £296.85

              Comment


              • #8
                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.
                I offer no guarantee that anything I say is correct. wysiwyg

                Comment


                • #9
                  £296.15384615384615384615384615385 (Roughly)

                  Comment


                  • #10
                    Originally posted by Nutrance View Post
                    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?

                    Comment


                    • #11
                      How i worked it out

                      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.

                      Comment


                      • #12
                        Originally posted by Nutrance View Post
                        [...]
                        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).

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                        • #13
                          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).,...
                          I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

                          Comment


                          • #14
                            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!

                            Last edited by Nutrance; 06-12-2011, 19:32 PM. Reason: bad grammar!

                            Comment


                            • #15
                              Originally posted by Nutrance View Post
                              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.

                              Comment

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