Christies Beach 
Have you ever had a look at a rent ledger and thought “What on earth does all this mean?” Well, you’re not alone and hopefully this article will help you.
Please just be aware that this is only explaining how to read one of our rent ledgers, other rent ledgers may differ.
Ok, let’s begin!
Rent is paid in fortnightly blocks. As an example, if the rent is $320pw, then $640 is due at the commencement of each fortnight.
$640 due Sunday 26/01/2020 for the fortnightly period 26/01/2020 – 08/02/2020
$640 is then due again on 09/01/2020 for the fortnightly period 09/02/2020 – 22/02/2020
If you pay more than the fortnightly rent, say $700, then the $60 will be shown as a carried amount into the next fortnight. The completed fortnight dated will remain the same, 09/02/2020 – 22/02/2020, however the corrected paid-to date will change to take into consideration how many days the extra $60 reflects ($320 ÷ 7 = $45.71 per day). $60 = 1 complete day and $14.29 into the next day.
Your rent ledger would show the completed fortnight to 22/02/2020 but the corrected paid-to date as 23/02/2020 with $14.29 paid towards the 24/02/2020.
Feel free to contact Professionals 8382 3773 if you have any questions.
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How to read a rent ledger
13/02/2020
Article posted by Professionals Christies Beach
