Renters Rebate Calculator

Formula

The formula to calculate the renters rebate amount (RA) is:

\[ RA = \frac{AR \times RP}{100} \]

Where:

$ RA $ is the renters rebate amount ($).
$ AR $ is the annual rent paid ($).
$ RP $ is the rebate percentage (%).

Example

Let's say the annual rent paid ($ AR $) is $12,000 and the rebate percentage ($ RP $) is 5%. Using the formula:

\[ RA = \frac{12,000 \times 5}{100} \]

We get:

\[ RA = \frac{60,000}{100} = 600 \]

So, the renters rebate amount ($ RA $) is $600.

What is a Renters Rebate?

A renters rebate is a refund or credit offered to tenants, typically by a government program, based on the amount of rent they have paid during a certain period. It is often provided to low-income renters to alleviate their housing costs. The rebate amount is usually a percentage of the rent paid and can vary depending on the renter’s income, the amount of rent paid, and the specific rebate program’s guidelines.