Late Rent Interest Calculator

Calculate Late Rent Interest





Formula

The formula to calculate the interest due on late rent payments is:

\[ ID = RA \times \left(\frac{IR}{100 \times 365}\right) \times DL \]

Where:

What is Late Rent Interest?

Late rent interest is the additional money owed by a tenant when rent payments are not made on time. It is calculated based on the agreed-upon annual interest rate in the lease or rental agreement. This interest compensates the landlord for the delay in payment and is typically calculated on a daily basis from the day the rent was due until the day it is paid.

Example Calculations

Let's assume the following values for two examples: