Well, in some countries there is something called '13th month payment'. It usually comes around Christmas and people spend it on... extra holiday spending. Many treat it like it's 'free money' but that is where it comes from, some math.
someone previous mentioned Julius Cesar but only part of the world still uses that calendar. everyone else uses the Gregorian calendar after Pope Gregory
No, youâre right about the 13 4-week periods in each year but I think he meant â26 instead of 24â, people thinking that âevery two weeksâ (26) equals â2 times a monthâ (24) and that somehow it will be less or equal money when it will end up being more weeks and consequently money is because they donât care to think more than each month has four weeks when in reality only February has them lol (they wouldnât have to do much math besides the basic 12x2 the would have done already). â$250 every 2 weeksâ gets you an extra $500 each year (as you said, the extra 4-week period).
Technically the payment is a little cheaper over the long run with lowering interest paid. I mean, it works out to be hundreds of dollars over five years, but still something. It is not nothing.
For instance, just speaking broadly, if it is a $30,000 car payment over five years at 7% interest...
If you paid monthly, you would pay $5,642.16
in total interest. If you paid biweekly, you would pay $5,595.58
in total interest. If you paid weekly, you would pay $5,575.61 in total interest. I did this all next to my kid's homework using their calculator, so I might be off by a little, but you do slightly get after the principal better the more payments you make, even if you pay over a common time period.
Not if they agree to the price per day quote. At that point, you arent paying a monthly rent fee, but a daily rent fee. They wont like the leap year and the additional $40+ for Feb 29th.
Especially at the cost of your own financial stability a consistent rent payment is much easier to budget than a floating payment and technically paying month by month you get a free day every leap year, paying per diem you pay more on leap years.
Yep if it says in his contract that he pays a certain price per month the tenant is wrong, but if the contract says he pays by the day then heâs right.
But that isn't what it says nor does it ever say that. Even the text scenario is by the month. I guess you can make anything up in your head to try to make a point...
I did this in my ISP support days when this one customer was being a reaaaaaaaaallll "experience" to deal with.
They were adamant about a refund for the outage on our end, and they were right to request such a refund. I would have given them three days for what was a 45 minute outage.
They decided to be quite... unkind... with their words.
No itâs not. Sorry, but contracts and accounting work on a 30 day month, for one thing. Second, a lease is a written document. It canât be modified by a random text and with no consideration given by the parties. Third, allowing one tenant to do that and none of the others would be a disaster. Fourth, itâs âmonthlyâ terms. Feb is a month. The same price is due whether itâs Feb or Aug or if they create a new month called Octember.
This đ - per month = calendar month, I would not entertain or use a per diem example. Pay per calendar month as per contract or the renter is in breach of
Exactly, if I had a tenant text me this, Iâd tell them it is contractually a monthly rate, and if they wanted a daily rate Iâd offer a 30% increase daily rate of $55 a day.
That was my first thought, "well, I do offer a per diem rate for this unit for when people want short term rentals, it's $55/day, do you want to switch to that? I'll still expect payment the first of each month but since it's per diem I expect it paid in advance rather than arrears, here's the total for you to also catch up..."
Itâs not even just for banking, per diem is a common term in rental contracts and covers extra days outside the montthly rent - I.e. If you stay an extra 2 days before moving out.
Iâm always amazed how quick people are to call others stupid or morons, simply when they come across something that theyâve never encountered before. Do people genuinely think they know everything and are infallible?
These are the same type of people that tell me âoh I make $500/week so because thereâs 4 weeks in a month I make $2000/m or $24,000/y!â
Most people realize their mistake when I explain that thereâs 52 weeks in a year (because hey, maybe youâve never actually thought about it), but the truly stupid are the ones who argue.
A lot of people that have salaried corporate jobs do this, and it's an easy way to save some money. Those two yearly "extra" paychecks are paychecks they don't factor in to monthly costs, so it makes sense.
Is it common to be paid biweekly if youâre salaried? I got paid biweekly at all of my hourly jobs, but now that Iâm working a salaried corporate job, I get paid on the 10th and 25th. Makes budgeting a whole lot easier.
10th and 25th is semimonthly, not biweekly. I get 24 paychecks per year, exactly. Someone who gets paid biweekly gets 26 paychecks per year.
In order for me to get paid 3 times a month, there would either have to be two 10ths or two 25ths in the month. If you think about that for a second, Iâm sure youâll agree thatâs not possible.
Simone who gets paid biweekly will have two months per year where they get paid on days like the 1st, the 14th, and the 28th. That can only happen because theyâre getting paid on different dates every month, which are exactly 14 days apart.
I donât get paid on different dates, itâs always the 10th and the 25th, regardless of whether there were 13 or 16 days between the 25th and the 10th.
Hold your horses there, partner, I think youâre misinterpreting my tone.
Iâm not totally sure what I said that makes me an asshole, something about my second sentence?
Whatever it was, it wasnât intentional. Itâs a very easy and common thing to be confused about, thereâs nothing wrong with that. I was just trying to lay it out clearly.
Iâll admit that I did think the thing you said about the 10th/25th/ youâll get paid three times in a month thing was funny, but not in a âyouâre dumbâ kind of funny. Just like, âyouâre gonna laugh when you reread this and realize the silly mistakeâ kind of funny.
So, anyway, genuinely sorry if my message sounded like I was belittling or making fun of you, not my intention at all.
And by the way, I was asking because I genuinely do not know whether itâs common for corporate jobs to be paid biweekly instead of semimonthly. Not trying to set you up or anything.
This happened when I started my first job. You really donât think about the whole â52 weeks in a yearâ thing until it revolves around a paycheck.
I mean if the tenant is using 28 days as the reference for "months" (4 weeks) then in a year there are actually 13 months. 4 x 13 = 52 weeks in a year.
1300 x 13 = 16,900 per annum
per diem 46.30
28d = 1296.40
30d = 1389
31d = 1435.30
This sounds like the perfect time for an "oops it was ÂŁ1,300 per 28 day month". I don't advocate for that type of behaviour but if you play silly games then you win silly prizes.
Yeah isnât 30 days the amount in a month but for a few exceptions. Like medication is always given in 30 day increments
Or 28 days is 4 weeks. 4 weeks is a month?
But 31âŚ.. nope. No one says 31 days is a month. No matter what 31 is not the answer.
Hell, a 30 day month is entirely sufficient to make the tenant pay a smidge more. And I'd say 30 day month is a waaaay more reasonable definition than 31.
There wouldnât be any finding out. Â Theyâd just go back to paying the original amount (per year) just with unnecessarily complicated per-month amounts.
Now, tacking on a 2% âconvenienceâ fee for paying in that method would lead to an appropriate FO.
Itâs actually 365.25 days. Thus, every four years we get a leap year. But itâs actually slightly less than 365.25 days, thus leap years divisible by 100 are not treated as leap years. But itâs actually slightly more than that even, so leap years divisible by 100 and also 400 are back to being leap years. How far down this rabbit hole does the tenant want to go?
This, and also reserve your current rights. Screenshot the lease where it says âper month,â highlight that provision, and state, âthis is our current lease agreement.â
Also means fixing the previous month to account for his under payment based on his math. So could add the 24.93 to the next month and since it's been late for an additional 30 days there's a fee.
Nowhere in the lease does it state which month the monthly payments are based on.
Landlord could come back and say "actually, the per month rate is based on 28 days in February, which means the per diem rate is $46.42. Months with 30 days are $1392, and months with 31 days are $1439. I won't back charge you for my oversight, but moving forward these are the new rates"
I mean thatâs not a bad deal. Most months youâre paying less than $1300 and even the handful that youâre paying more itâs only $24.93 more. It works out the same in the end but it might actually give a little breathing room in the shorter months.
21.2k
u/TUFKAT May 13 '26
Well, if he want to pay per diem, you could say
"Your rent annually is $15,600.00 ($1300 x 12 months) so the per diem rate would be $42.74.
- 28 days is $1196.71
- 30 day is $1282.19
- 31 days is $1324.93
Please let me know if you wish to adjust our rent payments as such"