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Terminating a periodic tenancy and finalising rent.

By seanneko - 23 August 2011 7

I’m moving house in the next few weeks but have been unable to find out what happens with “unused” rent when the agreement ends.

For example, say that you normally pay $700 per week, payable on a Thursday. What happens if you terminate the periodic agreement (obviously by giving adequate notice) on a Saturday. Do you only pay $200 rent on the final Thursday before moving out, because you will only be there for another two days? Or is it just bad luck and you lose the rest?

Any advice appreciated.

What’s Your opinion?


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7 Responses to
Terminating a periodic tenancy and finalising rent.
what_the 4:42 pm 24 Aug 11

seanneko said :

Cool, thanks for the advice. My real estate agent is highly incompetent (one of the reasons I’m moving), so I don’t want to just automatically trust anything they say.

Let me guess, 19yo ditzy property manager? Seems to be truckloads of em.

whoodzzz 3:59 pm 24 Aug 11

seanneko said :

Cool, thanks for the advice. My real estate agent is highly incompetent (one of the reasons I’m moving), so I don’t want to just automatically trust anything they say.

heh, they are all like that mate 😉

seanneko 9:46 am 24 Aug 11

Cool, thanks for the advice. My real estate agent is highly incompetent (one of the reasons I’m moving), so I don’t want to just automatically trust anything they say.

beejay76 12:39 pm 23 Aug 11

Yes, it’s usually pro-rata. In my bajillion rentals it’s always been calculated as (annual rent/365) x number of days. So in your example, ((700×52)/ 365)x2 = $199.45. No idea why, but there you go.

Henry82 11:32 am 23 Aug 11

If the agreement is to move out on the Sunday, you’ll be charged until the Sunday.

Makes sense to me.

whoodzzz 11:31 am 23 Aug 11

dependant on your real estate agent…

I believe the legislation says its a rate that will need to be calculated daily.

Some, like my most recent landlord (private) charged me for the entire week, regardless of when I moved…

winter 11:20 am 23 Aug 11

Rent will be usually calculated daily in this case. The real estate tell you how much your final rent will be.

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