Create a House Rent Billing Format for Administration Effortlessly

House rent billing format for Administration

hi i'm from the property management guide and here's a quick training video outlining five core questions about quarterly in advance rent payments within commercial property leases it can be confusing as to what such rent is actually due and therefore here are answers to five important questions to help explain this firstly what are such quarterly in advance rent payments they are very specific dates where rent must be paid every three months within a lease rather than the usual same monthly basis plus this is looking at rent in advance for the next three months into the future not for the last three months in arrears secondly why do they exist they are actually the norm within a commercial property lease but must be specifically mentioned within them they help bring certainty and security to a landlord by having a whole three months rent paid up front before the period of time it covers has even happened thirdly when are these quarter days and is this when rent must be paid the traditional quarter dates are set dates of the 25th of march 24th of june 29th of september and 25th of december all the modern quarter dates are the 1st of january 1st of april 1st of july and 1st of october payment must arrive by these dates even though the invoice date may be earlier and clauses in the least refer to interest and penalties for later payments fourthly how do you calculate and apportion the rent for each quarter well simply divide the annual rent by four to give you exactly the same amount to be paid every three months even though the dates and gaps between each one are technically different however when you have a new or adjusted rent in the middle of a quarter then you take an average daily rate and multiply it by the number of actual days that you're covering until the next quarter date and fifthly where do you see these quarterly in advance rent clauses well they're common in commercial property leases but it is becoming more popular to negotiate alternative methods like monthly payments and agree a different basis within existing leases that a tenant can afford to pay plus you often see this quarterly in advance basis with service charge payments or maybe upfront utility charges within commercial leases you can download a fact sheet summarizing all these five questions by clicking on the link below this video and you can also immediately download our free property management pack which includes a 15 point cheat sheet to ensure any property manager focuses on the real issues within property transactions and values now just before you go thank you so much for watching this video and if you've enjoyed this then if you can give it a thumbs up below the video on the right hand side we'd really appreciate that and don't forget to leave any comments you'd like as well we also recommend that you subscribe to our channel to receive the latest updates and training videos just directly below the video thank you so much for watching