How to use the Calculator for Monthly Rent to Vacate date

How Palace calculates the monthly rent to a vacate day... 
Say if the Monthly rent is $1,000 and they have paid from the 10th August to the 9th September.
Then they give notice for the 1st September.  Palace then finds out the daily rate, by taking the monthly amount and multiplying it by 12 and dividing by 365 and then does the daily rate from the 10th August up to the 1st September and puts the rest of the money on Keep back to be paid back to the tenant.
eg. Daily rate is 32.88 x 23 days - 756.16, so they tenant is then refunded 1000.00 - 756.16 = 243.84
Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request


Article is closed for comments.