Late Rent Calculator

Calculate Late Rent Fee





Formula

The formula to calculate the late rent fee (LR) is:

\[ LR = MR \cdot D \cdot \frac{P}{100} \]

Where:

What is Late Rent Fee?

The late rent fee is a charge applied when rent is not paid on time. It is calculated by multiplying the monthly rent by the number of days the rent is late, and then by the late rent fee percentage per day, divided by 100.

Example Calculation

Let's assume the following values:

Using the formula to calculate the late rent fee:

\[ LR = 1000 \cdot 5 \cdot \frac{2}{100} = 1000 \cdot 5 \cdot 0.02 = 100 \text{ $} \]

The Late Rent Fee (LR) is $100.