Prorated Rent Calculator
3 Common Methods of Prorating Rent
1
Number of days in the month.
(Recommended)
Take the monthly rent and divide it by the number of days in the month to get a daily rate. Then multiply this amount by the number of days in the month the tenant is responsible for rent.
2
Number of days in the year.
Take the monthly rent and multiple by 12 to get annual rent, then divide it by the number of days in the year (usually 365) to get a daily rate. Then multiply this amount by the number of days in the month the tenant is responsible for rent.
3
Assume a 30-day month.
Take the monthly rent and divide it by 30, (regardless of the days in the month) to get a daily rate. Then multiply this amount by the number of days in the month the tenant is responsible for rent.
Frequently asked questions
How do I calculate prorated rent?
Take the monthly rent and divide it by the number of days in the month to get a daily rate. Then multiply this amount by the number of days in the month the tenant is responsible for rent.
What is the most common way for a landlord to prorate rent?
The most common way for a landlord to prorate rent is to use the actual number of days in the month method. Method #1 above.
Is prorated rent charged on the day the tenant moves in?
Yes, typically rent is charged on the move-in day through the last day of the month. So, for example, a tenant moving in on July 10th should be charged 22 days of rent. (31 days in July, minus 9 days they were not there. 31-9=22)
When is prorated rent due?
Prorated rent is typically due at the same time as regular rent payments, which is most often at the beginning of the month. However, a tenant may be asked to make a prorated rent payment in advance of the move in date. It's crucial for both landlords and tenants to discuss and agree on these terms before signing the lease agreement to avoid confusion or disputes.
In-Depth Guide
How To Pro Rate Rent
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Looking to understand the ins and outs of prorated rent? Whether you're a landlord or a tenant, navigating prorated rent can be a bit confusing at first. But fear not, because in this comprehensive guide, we'll walk you through everything you need to know about prorating rent in a clear and concise manner.
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