How to calculate interest on rent arrears

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J
John_880
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Hello, I am after some advice regarding interest on rent arrears.

A tenant has vacated voluntarily, but owes £2318 in arrears.

The AST says interest can be charged at 3% above base rate from the date it should have been paid.

The tenant has been in arrears throughout the tenancy about 3 years

How do I calculate the interest?

Will it have to be calculated week by week as the amount owed varied each week.

Regards

John

18/09/2016 10:57

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