About Prorated Rent Calculator
In the real world, lease start dates rarely align perfectly with the first of the month. A tenant might move in on the 12th, or move out on the 20th. Charging them a full month's rent is unfair and often illegal; charging them nothing is bad business. Prorated Rent is the calculation of the exact partial amount owed for those specific days.
Methods of Calculation
Landlords typically use one of two methods:
- Actual Days (Most Accurate):
(Monthly Rent / Days in Month) * Days Occupied.
Example: $1500 rent in September (30 days). Daily rate = $50. Move in Sept 15th (16 days occupancy). Rent = $800.
Note: This changes slightly in February vs July. - Banker's Month (Simpler): Assumes every month is 30 days.
(Rent / 30) * Days Occupied. This standardizes the daily rate year-round but can be cents off.
When to Pay?
Typically, the prorated amount is paid for the first partial month. Then, the full rent is due on the 1st of the following month. However, some landlords require a full month's rent upfront and prorate the second month to align the billing cycle.
Using the Tool
Simply enter the Total Monthly Rent, the Move-in Date, and the number of days in that current month. The tool calculates the fair amount instantly.