j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188 
Likes: 540
|
Post by j on Feb 7, 2016 19:55:27 GMT
I'me sure I've seen a comment about this somewhere but cannot find it now. If you are due say £5.20 in rent, do PM round down to £5, or if it's £5.70 then is it £6. If so, is this really fair, where do all the other pennies that willeventually add up go? Does one's account simply track all the pennies & add up when they hit a whole £1 & so on?
|
|
|
|
Post by propertymoose on Feb 7, 2016 20:29:04 GMT
Hi j
Hope you've had a great weekend so far :-) Just thought I'd clear this up for you.
You are correct that the rental payments are currently rounded, and that the pennies are tracked in your account against your name to be paid out when they reach £1, so nobody is missing out. In light of the lower entry point, we of course need to start paying rent out in pence, so this will be enabled very shortly. Despite this, there will always be a need to hold a small rounding account (for instance if we need to distribute 39 pence between 40 shares), but for March rent day pence payments will be made.
Hope this helps, and please let me know if you would like further information.
Enjoy your evening and best wishes
Ben
|
|
j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
|
Post by j on Feb 8, 2016 8:43:06 GMT
Hi j Hope you've had a great weekend so far :-) Just thought I'd clear this up for you. You are correct that the rental payments are currently rounded, and that the pennies are tracked in your account against your name to be paid out when they reach £1, so nobody is missing out. In light of the lower entry point, we of course need to start paying rent out in pence, so this will be enabled very shortly. Despite this, there will always be a need to hold a small rounding account (for instance if we need to distribute 39 pence between 40 shares), but for March rent day pence payments will be made. Hope this helps, and please let me know if you would like further information. Enjoy your evening and best wishes Ben Thanks for the prompt explanation.
|
|
