Tenants moving out

3card

Hi all

I am looking for a little guidance

My tenants are moving out in the next couple of weeks and there monthly notice falls during the month and not the 'rent due date'

I am looking for the fairest way to work out what there late rent payment should be?

They have been very good tenants while they have been with me and they only reason for leaving is that they are now buying their own home

Any advise/guidance greatly appreciated

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Pixie5740

Assuming this is England or Wales then the tenant's notice should align with the tenancy start date which is not necessarily the same as the date the rent is paid. That's the legal stance.

If you want to offer a pro rata rent refund that is entirely up to you. You could just calculate a daily rent amount and refund that amount x the number of days you are refunding.

3card

Sorry.
Should have said that is is in England

juniordoc

When i moved out of my last rental midway through a month, we worked out what 18 days rent would work out as, and paid that at the start of the month rather than a full calendar month.
Much less messy than having to be paid back a refund.

DoaM

Simplistic approach ...

£600 per calendar month

Moving out in June so 30 days.

£600 / 30 = £20 per day.

Rent for June equals X days x £20.

(Basically what post #4 says but with an example).

3card

thanks for the replies

You ideas were more or less what i was working on but wanted confirmation of my thinking

Thanks again

G_M

Depends whether you want to charge strictly by the law, or be more flexible.

If flexible, it's entrely upto you how flexible you wish to be. Buying their own property? They are probably financially stretched (most FTBs are!) so why not give them a rent holiday for that last month?