Let’s break down how you update your Tenant’s (i.e. Debtor’s) move-out date to get to a more accurate calculation of rental debt owing to you.

How Openroom calculates the amount owing by the Debtor to the Creditor

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Contents


Why do I need to let Openroom know about the move-out date?

On many Court Orders and/or Tribunal Decisions, there is a per-day rate that is to be calculated when a Debtor stays in the property beyond the dates indicated by the courts.

In these cases, you want to make sure you are adding those additional days onto the total amount owing to you.

The general calculation we do at Openroom for amounts owing to you is:

Total Debt Owing = principle listed in the court order + per-day rate + filing fee + interest

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See it in more details on this page

How to Calculate Amount Owing

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You don’t want to miss out on the per-day rate!

How do I update the per-day rate?

  1. Log in to Openroom
  2. Click on RENTAL DEBT on the left side menu bar