Prorated Rent Equation:
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Prorated rent (Urdu: "تناسب سے کرایہ") calculates the amount of rent owed when a tenant occupies a property for only part of a rental period (month). It ensures fair payment for partial occupancy.
The calculator uses the prorated rent equation:
Where:
Explanation: The equation calculates a proportional rent amount based on the actual days of occupancy.
Details: Prorated rent ensures fairness for both landlords and tenants when leases begin or end mid-month. It's commonly used for move-in/move-out situations.
Tips: Enter the monthly rent amount, number of days the property will be occupied, and total days in the month (default is 30). All values must be positive numbers.
Q1: When is prorated rent typically used?
A: Most commonly when a tenant moves in or moves out mid-month, or when a lease starts/ends mid-month.
Q2: How are partial days counted?
A: Typically, any day the tenant has access counts as a full day. Check local laws for specific rules.
Q3: What if the month has 31 days but I use 30?
A: Using 30 days will slightly favor the landlord, while 31 days favors the tenant. Most use 30 for simplicity.
Q4: Is prorated rent required by law?
A: Laws vary by location, but it's considered standard practice in most rental markets.
Q5: Can this be used for other prorated calculations?
A: Yes, the same formula works for utilities or other services billed monthly but used for partial periods.