Prorated Rent Formula:
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Prorated rent is a calculated portion of the monthly rent that accounts for partial month occupancy. It's used when a tenant moves in or out during the middle of a billing period.
The calculator uses the prorated rent formula:
Where:
Explanation: The formula calculates a daily rate by dividing the monthly rent by the number of days in the month, then multiplies by the actual days of occupancy.
Common Scenarios: Mid-month move-ins or move-outs, lease start/end dates that don't align with the first/last of the month, or short-term rentals within a month.
Tips: Enter the full monthly rent amount, select the correct number of days for the specific month (28, 29, 30, or 31), and enter the actual number of days the tenant will occupy the unit.
Q1: Is prorated rent required by law?
A: Laws vary by location, but many jurisdictions require landlords to charge only for days actually occupied.
Q2: How are partial days calculated?
A: Typically, any day the tenant has access counts as a full day, even if they move in late or out early.
Q3: What if the lease starts on the first?
A: No proration is needed if the lease starts on the first day of the month - the full monthly rent applies.
Q4: Can proration be used for security deposits?
A: No, security deposits are typically a fixed amount regardless of move-in date.
Q5: How does February affect proration?
A: February has fewer days (28 or 29), making the daily rate slightly higher than other months for the same monthly rent.