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What Is The Duration Of Annual Rent? - Properties - Nairaland

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What Is The Duration Of Annual Rent? by Odosa1(m): 3:03am On Jul 16, 2017
I have been wondering for a while now about the new trend of our landlords or caretakers. In the past i knew that a year rent start runing from a particular month in a particular year on to that same month in the the nxt year. (e.g july 2017 to july 2018).
But I have come to notice lately that most landlords or caretakers insists dt a year rent runs frm a particular month in a particular yr to the previous month in the nxt yr (e.g july 2017 to june 2018).
I understnd dt a year consists of 12months and that a child who is born july dis yr will only plock a year whn it exactly july nxt year, but going by their calculations, it doesnt add up.
Please nairalanders help my ignorance by adding ur contributions on the comment section.
God bless u.
Cc.
Lalasticlala
seun
mynd44
abeg make una help us push am reach fp for more contibutions.

4 Likes

Re: What Is The Duration Of Annual Rent? by MrBrownJay1(m): 3:14am On Jul 16, 2017
A yearly rent runs for 12months, so if you enter on the 15th of July 2017, the rent will end on the 14th of July.2018

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Re: What Is The Duration Of Annual Rent? by dingbang(m): 4:50am On Jul 16, 2017
This time around.. I go carry lawyer with me whenever I wan go rent house..

After all the school wey some people go, dem no fit count how many months are in one year. Its so terrible.

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Re: What Is The Duration Of Annual Rent? by hisgrace090: 5:05am On Jul 16, 2017
If you pay on say 15th July, it will expire on 14th July. making it twelve calendar month.

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Re: What Is The Duration Of Annual Rent? by Mynd44: 5:09am On Jul 16, 2017
MrBrownJay1:
A yearly rent runs for 12months, so if you enter on the 15th of July 2017, the rent will end on the 14th of July.2018
The OP refers to when the rent starts to count from the first day of the month (I think)

In this case, your receipt will most likely say "July 2015 to June 2016" which is valid. Cos July 1, 2015 through June 30, 2016 is one year. Saying it should be "July 2017 to July 2018" is wrong as that can be assumed to be the end of July eg. If the rent is paid July 14. You dont expect the landlord to give you through July 31 do you?

If the yearly rent was paid In January 1st, your receipt will read "Rent from January to December 2017"

As regards to the reference on birthday. If you were born March 1st, a year runs through to February 28/29 not March 1st. March 1st marks the start of a new year.

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Re: What Is The Duration Of Annual Rent? by NwaAmaikpe: 6:52am On Jul 16, 2017
shocked


Who pays rents these days?
Just put a juju pot near your gate.

Most wicked caretakers take 11months as a year
While others in school environs calculate annual rent based on length of session.


My tenants in BC put a pot of jazz by their gate...
My lawyer saw it once and hasn't gone back there to serve them notice of rent expiration.

7 Likes 2 Shares

Re: What Is The Duration Of Annual Rent? by rawpadgin(m): 6:53am On Jul 16, 2017
I booked this space cuz i thought the thread will be interesting , alas i was wrong

2 Likes

Re: What Is The Duration Of Annual Rent? by PHfinest(m): 6:53am On Jul 16, 2017
Annual means 1 year.


What's your question?

1 Like

Re: What Is The Duration Of Annual Rent? by Kennitrust(m): 6:58am On Jul 16, 2017
ryt mehn

1 Like

Re: What Is The Duration Of Annual Rent? by Kennitrust(m): 7:00am On Jul 16, 2017
Mynd44:

The OP refers to when the rent starts to count from the first day of the month (I think)

In this case, your receipt will most likely say "July 2015 to June 2016" which is valid. Cos July 1, 2015 through June 30, 2016 is one year. Saying it should be "July 2017 to July 2018" is wrong as that can be assumed to be the end of July eg. If the rent is paid July 14. You dont expect the landlord to give you through July 31 do you?

If the yearly rent was paid In January 1st, your receipt will read "Rent from January to December 2017"

As regards to the reference on birthday. If you were born March 1st, a year runs through to February 28/29 not March 1st. March 1st marks the start of a new year.
what I though of

u are ryt mehn

4 Likes

Re: What Is The Duration Of Annual Rent? by Bisjosh(f): 7:03am On Jul 16, 2017
You want to live in someones house for one year and one month abi? grin grin angry

Op go and pay your house rent pls. tongue

4 Likes

Re: What Is The Duration Of Annual Rent? by moscobabs(m): 7:06am On Jul 16, 2017
Thanks to that lecturer that taught me TAXATION

Basic of Assessment precisely.

Op if you pay rent in January 2017 your rent due on 31th Dec 2017.

If u pay rent on July your rent due in June next year

1 Like

Re: What Is The Duration Of Annual Rent? by Sowada(m): 7:06am On Jul 16, 2017
I have the same problem with our new caretaker, he came last year and change everything to 11months instead of 12months. From one month (July) to the next year June) and we argue with he insist on it. I beliv it is those who depend on the rent for there life that is changing it. May God bless my hustle make I be landlord too.

4 Likes

Re: What Is The Duration Of Annual Rent? by aieromon(m): 7:20am On Jul 16, 2017
Sowada:
I have the same problem with our new caretaker, he came last year and change everything to 11months instead of 12months. From one month (July) to the next year June) and we argue with he insist on it. I beliv it is those who depend on the rent for there life that is changing it. May God bless my hustle make I be landlord too.

1st of July 2016 to 30th of June 2017 is 12 calendar months. 1st of July 2017 marks the beginning of another calendar year based on your annual rent. This means your annual rent is due on the 1st of July 2017 and not the 31st of July 2017.

1 Like

Re: What Is The Duration Of Annual Rent? by eagleeye2: 7:21am On Jul 16, 2017
Mynd44:

The OP refers to when the rent starts to count from the first day of the month (I think)

In this case, your receipt will most likely say "July 2015 to June 2016" which is valid. Cos July 1, 2015 through June 30, 2016 is one year. Saying it should be "July 2017 to July 2018" is wrong as that can be assumed to be the end of July eg. If the rent is paid July 14. You dont expect the landlord to give you through July 31 do you?

If the yearly rent was paid In January 1st, your receipt will read "Rent from January to December 2017"

As regards to the reference on birthday. If you were born March 1st, a year runs through to February 28/29 not March 1st. March 1st marks the start of a new year.
This may actually be the first time I am agreeing with you. Any property lawyer will tell you that rent doesn't start counting from middle or any other date, but from the first day of the month. So if you enter 27 of June, your rent either start counting from 1st of June or you can reach an agreement with the landlord so that he can start it from 1st of July.

3 Likes

Re: What Is The Duration Of Annual Rent? by Remii(m): 7:22am On Jul 16, 2017
Sowada:
I have the same problem with our new caretaker, he came last year and change everything to 11months instead of 12months. From one month (July) to the next year June) and we argue with he insist on it. I beliv it is those who depend on the rent for there life that is changing it. May God bless my hustle make I be landlord too.

if you moved in july, your rent expire in june, provided your rent started 1st of July the previous year, it expire June 30th,
Re: What Is The Duration Of Annual Rent? by NLProblemChild(m): 7:36am On Jul 16, 2017
Pls what of 2 and half years.. Rent on October 1st 2015.. When does it expire pls
Re: What Is The Duration Of Annual Rent? by akpamuomenka: 7:37am On Jul 16, 2017
eagleeye2:

This may actually be the first time I am agreeing with you. Any property lawyer will tell you that rent doesn't start counting from middle or any other date, but from the first day of the month. So if you enter 27 of June, your rent either start counting from 1st of June or you can reach an agreement with the landlord so that he can start it from 1st of July.


This is pure lie. Pls stop misleading people.

1 Like

Re: What Is The Duration Of Annual Rent? by Nutase: 7:37am On Jul 16, 2017
grin op abeg which school you go? angry
Re: What Is The Duration Of Annual Rent? by otabuko(m): 7:46am On Jul 16, 2017
July to June
Re: What Is The Duration Of Annual Rent? by calberian: 7:49am On Jul 16, 2017
NLProblemChild:
Pls what of 2 and half years.. Rent on October 1st 2015.. When does it expire pls

March 31, 2018
Re: What Is The Duration Of Annual Rent? by akpamuomenka: 7:49am On Jul 16, 2017
moscobabs:
Thanks to that lecturer that taught me TAXATION

Basic of Assessment precisely.

Op if you pay rent in January 2017 your rent due on 31th Dec 2017.

If u pay rent on July your rent due in June next year


What if I pay in January 30th, 2017.


It seems you are calculating by the month and forgetting the date of payment.
Re: What Is The Duration Of Annual Rent? by money121(m): 7:50am On Jul 16, 2017
Ok
Re: What Is The Duration Of Annual Rent? by eagleeye2: 7:53am On Jul 16, 2017
akpamuomenka:



This is pure lie. Pls stop misleading people.
I am not about to start an argument with you. If you know any property lawyer, you can reach out to him to educate you on this. I rent apartments and have been doing so for some years now.
Writing July 2017 to July 2018 is counting 13 months. If you do pay rents, you will notice that landlords hardly write July 14 2017 to July 13 2018. NO. They will rather write July 2017 to June 2018.
Re: What Is The Duration Of Annual Rent? by Mynd44: 7:55am On Jul 16, 2017
akpamuomenka:



What if I pay in January 30th, 2017.


It seems you are calculating by the month and forgetting the date of payment.
If you pay January 30, 2017, your rent is due on January 29, 2018.

By the morning of January 30, 2018, you are owing your landlord.

But your landlord might just count January 30 as February 1
Re: What Is The Duration Of Annual Rent? by eagleeye2: 7:55am On Jul 16, 2017
akpamuomenka:



What if I pay in January 30th, 2017.


It seems you are calculating by the month and forgetting the date of payment.
Yes. You calculate the month and not the date. So if you pay 30th January 2017, a humane and understanding Landlord will write February 2017 to January 2018. But a wicked one can do otherwise.
Re: What Is The Duration Of Annual Rent? by haibe(m): 8:01am On Jul 16, 2017
It depends on the agreement.. simple! Just be clear about what the terms are. If you are not satisfied with it, then look for another. If the agreement says the rent is from June 1 2017 to May 31 2018, then even if u move into the house june 31 2017, ur rent will still expire May 31 2018, which make your stay less than 12 months. Another person may negotiate an agreement based on when he moves into the apartment, so if he moves in june 31 2017, then his rent is due June 30 2018.
Re: What Is The Duration Of Annual Rent? by akpamuomenka: 8:04am On Jul 16, 2017
Mynd44:
If you pay January 30, 2017, your rent is due on January 29, 2018.
By the morning of January 30, 2018, you are owing your landlord.
But your landlord might just count January 30 as February 1

Well said.
Re: What Is The Duration Of Annual Rent? by whirlwind7(m): 8:07am On Jul 16, 2017
Odosa1:
I have been wonderg for a while now about the new trend of our landlords or caretakers. In the past i knew that a year rent start runing from a particular month in a particular year on to that same month in the the nxt year. (e.g july 2017 to july 2018).
But I have come to notice lately that most landlords or caretakers insists dt a year rent runs frm a particular month in a particular yr to the previous month in the nxt yr (e.g july 2017 to june 2018).
I understnd dt a year consists of 12months and that a child who is born july dis yr will only plock a year whn it exactly july nxt year, but going by their calculations, it doesnt add up.
Please nairalanders help my ignorance by adding ur contributions on the comment section.
God bless u.
Cc.
Lalasticlala
seun
mynd44
abeg make una help us push am reach fp for more contibutions.

Well, do your count again. July to July is 13 calendar months, not 12.
An annual rent should read July to June. Means your rent is due every July.

2 Likes

Re: What Is The Duration Of Annual Rent? by otabuko(m): 8:09am On Jul 16, 2017
NLProblemChild:
Pls what of 2 and half years.. Rent on October 1st 2015.. When does it expire pls
February 2018

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