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Re: Rent--once/mo or twice a month--legal?
by jp (CA)
on August 22, 2012 @20:03
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you can make more without even calling attention to it.
600 x 12 months = 7200
300 x 26 (52 weeks / 2 = 26) = 7800
you get paid for 13 months during the span of 12 when you collect bi-weekly rent at half the monthly cost.
enjoy!
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Re: Rent--once/mo or twice a month--legal?
by jp (CA)
on August 22, 2012 @20:20
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Last I checked this was a business. Deviating from the standard often costs more. No different than my insurance co that offer 1-pay, 2-pay, 12-pay and buries a few bucks in each time without you noticing.
There are 26 bi-weekly pay periods in a year (that's why some people think they get an 'extra paycheck' every now and then. No, it's just that most of our months aren't 28 days long (except Feb, sometimes).
There is nothing wrong with charging bi-weekly. You need an agreement to do so so rewrite whatever you have that's stated as monthly. It IS more paperwork, more opportunities for lateness, etc., and that deserves a premium. Don't like it? pay every month like most of the country.
Jake apparently would gladly say sure, pay me my 7200 evenly divided by 26 so that'll be $276.92 every two weeks - I just love pennies.
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Re: Rent--once/mo or twice a month--legal?
by Franklin (TN)
on August 23, 2012 @09:00
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Are you an possibly uninformed? The OP specifically stated the renter would pay on the 1st and 15th. Not every 2 weeks. So he'd pay twice a month, not every 2 weeks. Big difference. Let me put it in terms you can understand since reading comprehension isn't your strong point.
$600 x 12 months = $7,200.00
$300 x 24 (12 months x 2 times a month = 24) = $7,200.00
This old mortgage trick isn't going to work here, sparky. This only works if you truly get paid once every 2 weeks as well. A lot of businesses pay on the 1st and 15th and divide your annual salary by 24.
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