If a tenant pays rent monthly from the 31st each month starting last year and vacated the 21st August 24, how much rent are they due back? Rent was £2115 pcm.
A letting agent said you divide the 12 months by 366 days due to it being a leap year but another landlord said that is not true.
How much rent/how many days needs to be returned to the tenant? Thank you.
You would refund 10 days rent (22nd Aug to 31st Aug)
Rent per month x 12 = annual rent / 366 = daily rent x 10 = refund.
That is of course that their notice period (that you accepted) did expire on 21st August. If their notice ended on 31st Aug, but they handed back their keys early voluntarily, then they are due no refund.
Thanks for your reply. New tenants moved in on 22/08/24. As the 31st was normally the day the rent was paid for the following month, do I still include the tenth day?
If he had only pre-paid rent upto 30th, then it would be 9 days.
Thank you. This is the sum I came up with too
The agent refuses to accept 9 days and I am flummoxed. How can I make it clearer? They are insisting it’s eight days.
Whether a tenant leaves early or on the stated date you are not obliged to refund anything.
If your contract is monthly you don’t need to refund anything
In this situation they do because a new tenant moved in the next day. You’re not permitted to take rent from old and new tenants