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All Forum Posts by: JR T.

JR T. has started 10 posts and replied 591 times.

Post: Quick Advise! first rental + tenants payment question!!

JR T.Posted
  • Financial services executive
  • Frederick, MD
  • Posts 609
  • Votes 341

Hello, new here and do realize this is an old topic. 

I just wanted to point out that $200 a week is much better than $750 a month. Here's why: in a year there are 52 weeks so you collect a total rent of $10,400 a year or $866 a month. So you thought it was $50, when in reality it was $116. That's a great deal and while I can't speak to notice requirements for your state, there are lots of weekly rentals out there and there's nothing in any law I'm aware of that would prohibit you from collecting weekly under a lease.

If they were still open to the idea I would write them a new lease for an extra $1,392 over the lease term.