How to Calculate Daily, Weekly and Monthly Rent

Houston, the 4th largest city in the United States, has numerous apartment homes for anyone wanting to lease. One question that many people ask, especially in this type of economy we're in, is how one can be approved for an apartment without necessarily showing proof of income. For many complexes in the sprawling city, having a job is a major prerequisite to being approved. Not only does one need to have solid employment, but one needs to be earning enough to afford the monthly rent. Those who are jobless are therefore at a major disadvantage when it comes to being approved. But is there a way to actually get approved in Houston even without a job?

A few places where you can rent without a job

We have seen that in Houston, renting an apartment involves being able to prove both income and employment. Many apartments actually go to the pain of verifying and this is usually done by a simply phone call to an 800-number or asking for original paycheck stubs or tax returns. Unfortunately in this economy, there is a sizeable chunk of apartment applicants who are without gainful employment.

One of the best ways to get approved for an apartment if you are indeed jobless is to have a co-signer. This is someone in good standing in the community who can attest that they know you and are willing to vouch for your authenticity. Some apartments will approve on the strength of this alone but some will insist on additional information.

Another layer of qualifiers that you can possibly provide is a list of your assets. If you own any property that brings in income, for instance, a rental property, you can show this as proof of income. Some apartments will take this in addition to having a co-signer.

A last and final step you can take to get approved in Houston without a job is to offer to pay a deposit. In addition to a deposit, one can also offer to pay 3 months of rent in advance and also show that they are actively looking for a job. This gives the leasing management the impression that the tenant will find gainful employment soon.

Remember that even after providing all this information, it is still the apartment's discretion to rent to you or not. Some might also conduct credit checks and background checks to make a determination.

It is a common occurrence for renters to be confronted with a plethora of different pricing metrics during an apartment hunt. Landlords, agencies, sub-letters offer rental prices weekly, monthly, fortnightly, and sometimes even daily. This is confounded by the fact that rents can be collected based on different time periods, such as monthly (per calendar month) or every 4 weeks.
It is easy to be confused by the headline figures. For example, $300 weekly rent does NOT equal $1200 monthly rent. The monthly rent is not simply multiplying the weekly rent by four. This is because every month has different number of days within it, and that has to be taken into account.
Therefore, renters will always need to be able to convert weekly to monthly (per calendar month) rent and vice versa. This article shows you how to create your own calculator to achieve this.
First, we calculate weekly rent from you per calendar month (PCM) rent. For argument’s sake that’s say your monthly rent is $700. To calculate your weekly rent, multiply your monthly rent by 12 to calculate your annual rent. 700 x 12 = $8,400. Since we know that there are 52 weeks in a year, we then divide $8,400 by 52 to return our weekly rent. So it is $8,400 / 52 = $161.53.
Conversely, to calculate monthly from weekly rent, we first multiply the weekly by 4, then one-third on one week’s rent. So for example if my weekly rent is $120, then to calculate my monthly it is $120 x 4 = $480 + $40 = $520, since one third of my weekly rent of $120 is $40.
Another scenario is when you need to calculate the daily rent. This is needed for example if you need to work out your ‘prorated rent’ when you move into an apartment in the middle of the month and you need to calculate how much to pay for that month until you start paying monthly.
To do this, multiply your monthly rent by 12 to calculate your annual rent. Then, divide your annual by 365 to arrive at your daily rent, since there is always 365 days in a year. Then, work out how many days you’ll be living in the apartment until the starting date of your monthly lease. For example, if lease began on the 20th of July and rent is collected on the 1st of every month, I will be in the apartment for 11 days in the first month. I will then multiply the number of days by the daily amount owed.
So if monthly rent is $600, my annual will be $600 x 12 = $7200 and my daily rent will be $19.72. The amount payable in the first month of the lease will then be $19.72 x 11 = $216.99.
We hope that the
outlined above will cut through the pain and complexities of apartment hunting, and we hope you will find your dream apartment.