Rent Calculator

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What is the meaning of renting?

The term which is used often by the people is known as renting. However, there are other words that are associated with the term renting like that of letting it out or hiring. Furthermore, the 3 terms viz. renting / letting / hiring mean that it is an agreement upon which payment is being made more often than not for the temporary use of either the goods or the service or the property that is owned by the other person.

Rent Calculator

Weekly Rent: Rs
Annual Rent: Rs
Monthly Rent: Rs

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What is meant by gross lease?

On the other hand, the term gross lease is meant to be used for instances when a tenant pays a flat rental amount whereas it is the responsibility of the landlord to pay the property charges which for the most part are incurred by the ownership.

On this page about the rent calculator, an individual shall be permitted to check out the formulae related to calculating rent apart from using the online rent calculation tool through which you will get the answers in a few steps.

Formulae used in an online rent calculator

When you wish to calculate rent, the formulae that have been mentioned below shall make your work easy. All you will have to do is understand the formulae listed below & then use the online rent calculator tool available on this page.

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Rent calculator formulae

  1. Annual rent formula –

\(weekly \, rent\times 52=annual\, rent\)

Example 1:

\(annual\, rent=200 \times 52\)

\(annual\, rent=10,400\)

  1. Monthly rent payment formula –

\(monthly \,rent\, payment\,=\, \frac{annual\, rent}{months\, per \,year}\)

Example 2:

\(monthly \,rent\, payment=\frac{10,400}{12}\)

\(monthly \,rent\, payment=866.67\)

  1. Weekly rent payment formula –

\(weekly \,rent \,payments\,= \frac{monthly\, rent }{number\, of\, days\, in\, a\, month}\) \times number\, of\, days\, in\, a \,week\)

Example 3:

\(weekly\, rent\, payment\,=\, \frac{10,400}{30}\) \times 7\)

\(weekly \,rent\,=\,346.6 \times 7\)

\(weekly \,rent\, payment\,=\,2,426.2 \,(for \,7\, days)\)

  1. Fortnightly rent payment formula –

\(fortnightly\,rent\,= \,weekly\, rent \,payment \,\times \,14\, days\)

Example 4:

\(fortnight\, rent\,= \,2,426.2 \times 14 \)

\( rent \,for\, a\, fortnight\,=\,33,966.8\)

How to use a rent calculator?

Using this online rent calculator is quite easy as you will have to follow a few steps in order to know the answer. The 1st step is to enter the pre – tax income followed by the monthly debt. You will have to then click on the tab calculate to know the answer for the details entered in the fields.

What is the use of this online rent calculator?

With the help of this online rent calculator, which is actually a free to use tool, an individual will be able to have an approximate idea as to what will be rental fee for a particular product & whether you would be able to afford it or not. In addition to this, an individual will also be able to use a number of times this rent calculator by clicking on the clear or the reset tab so that it would allow you to re – enter the details before you again click on the tab that reads calculate.