- Category: Rent Monies
- Published: Saturday, 26 May 2018 22:20
For those beginning to deal with leases for commercial property, there can be a striking difference to the way in which monies like rent are paid.
The total money over, say, a year may be easily understood – for example £12,000 each year. But then the lease may go onto how, or more importantly when, this is paid - often on ‘quarter days’.
The Quarter Day Principle
This basically states that the money is paid in 3 month chunks, and not the more popular means of monthly or even weekly in other, say, residential leases. So, the above example means paying £3,000 four times a year, which then totals £12,000 for the whole year.
Now this is a large amount of money, rather than, for example, only £1,000 every month - and to make matters worse...