Rent question if paid fortnightly?

Kev27

Hi if my Rent was £390 Per Calendar Month can anyone tell me how much i would pay if i paid fortnightly?

Many Thanks

davidmcn

Kev27 said:

Hi if my Rent was £390 Per Calendar Month can anyone tell me how much i would pay if i paid fortnightly?

Many Thanks

(£390 x 12) / 26 = £180. Or thereabouts.

Kev27

davidmcn said:

Kev27 said:

Hi if my Rent was £390 Per Calendar Month can anyone tell me how much i would pay if i paid fortnightly?

Many Thanks

(£390 x 12) / 26 = £180. Or thereabouts.

Thank you Dave!

When you say "Or thereabouts" do you think you would be able to give me the exact amount please?

tasticz

stick with the 180 per fortnight. don't complicate it too much

Kev27

tasticz said:

stick with the 180 per fortnight. don't complicate it too much

Cheers tasticz, i just don't want to overpay the Landlord as money is very tight at the moment with this outbreak and i need every penny i can get.

Cheers

davidmcn

Kev27 said:

davidmcn said:

Kev27 said:

Hi if my Rent was £390 Per Calendar Month can anyone tell me how much i would pay if i paid fortnightly?

Many Thanks

(£390 x 12) / 26 = £180. Or thereabouts.

Thank you Dave!

When you say "Or thereabouts" do you think you would be able to give me the exact amount please?

No, because there are several different ways one might apportion it depending on how you want to deal with calendar months of differing lengths, leap days etc, though really the differences are in pennies. It's £4680 a year if you want to work back from that. If this is something you're negotiating with your landlord then it's whatever you agree with them.

Kev27

davidmcn said:

Kev27 said:

davidmcn said:

Kev27 said:

Hi if my Rent was £390 Per Calendar Month can anyone tell me how much i would pay if i paid fortnightly?

Many Thanks

(£390 x 12) / 26 = £180. Or thereabouts.

Thank you Dave!

When you say "Or thereabouts" do you think you would be able to give me the exact amount please?

No, because there are several different ways one might apportion it depending on how you want to deal with calendar months of differing lengths, leap days etc, though really the differences are in pennies. It's £4680 a year if you want to work back from that. If this is something you're negotiating with your landlord then it's whatever you agree with them.

Well long story short my Rent is currently £368 and i pay £170 a fortnightly via bank transfer but ive had a Call to say it is increasing to £390 which im not totally cool with as there are some issues with damp, but just trying to work out whether its worth staying or looking for somewhere else.

AdrianC

Kev27 said:
When you say "Or thereabouts" do you think you would be able to give me the exact amount please?

It's not exactly complicated maths. You have a calculator. You know how many days, weeks and months there are in a year.

Kev27

AdrianC said:

Kev27 said:
When you say "Or thereabouts" do you think you would be able to give me the exact amount please?

It's not exactly complicated maths. You have a calculator. You know how many days, weeks and months there are in a year.

Maths isn't my strong point unfortunately, hence why im asking here.

Cheers

oldbikebloke

Kev27 said:
Well long story short my Rent is currently £368 and i pay £170 a fortnightly via bank transfer but ive had a Call to say it is increasing to £390 which im not totally cool with as there are some issues with damp, but just trying to work out whether its worth staying or looking for somewhere else. 

why are you unable to manage your finances so you pay once per month?
current position 
368 per month x 12 = £4,416 per year
170 every 2 weeks means 26 payments in "a" year (ie 52 weeks / 2 weeks = 26) so 170 x 26 = £4,420
you are overpaying by £4 per year if you make exactly 26 x £170 payments 
new position
390 x 12 = £4,680 per year (so a 6% increase)
4680/26 = £180 so an extra £10 per fortnight.

as others have mentioned, you could calculate it by 365 days, 365.25 days (every 4th year is a leap year), by exact days for each individual year, by hour or by minute if you and the LL want to do it differently.

Kev27

oldbikebloke said:

Kev27 said:
Well long story short my Rent is currently £368 and i pay £170 a fortnightly via bank transfer but ive had a Call to say it is increasing to £390 which im not totally cool with as there are some issues with damp, but just trying to work out whether its worth staying or looking for somewhere else. 

why are you unable to manage your finances so you pay once per month?
current position 
368 per month x 12 = £4,416 per year
170 every 2 weeks means 26 payments in "a" year (ie 52 weeks / 2 weeks = 26) so 170 x 26 = £4,420
you are overpaying by £4 per year if you make exactly 26 x £170 payments 
new position
390 x 12 = £4,680 per year (so a 6% increase)
4680/26 = £180 so an extra £10 per fortnight.

as others have mentioned, you could calculate it by 365 days, 365.25 days (every 4th year is a leap year), by exact days for each individual year, by hour or by minute if you and the LL want to do it differently.

Thank you mate! Will stick wi

oldbikebloke said:

Kev27 said:
Well long story short my Rent is currently £368 and i pay £170 a fortnightly via bank transfer but ive had a Call to say it is increasing to £390 which im not totally cool with as there are some issues with damp, but just trying to work out whether its worth staying or looking for somewhere else. 

why are you unable to manage your finances so you pay once per month?
current position 
368 per month x 12 = £4,416 per year
170 every 2 weeks means 26 payments in "a" year (ie 52 weeks / 2 weeks = 26) so 170 x 26 = £4,420
you are overpaying by £4 per year if you make exactly 26 x £170 payments 
new position
390 x 12 = £4,680 per year (so a 6% increase)
4680/26 = £180 so an extra £10 per fortnight.

as others have mentioned, you could calculate it by 365 days, 365.25 days (every 4th year is a leap year), by exact days for each individual year, by hour or by minute if you and the LL want to do it differently.

Long story but thanks for that detailed answer mate!

Take care