Rental Proration Calculator

Prorated Rent Formula:

\[ \text{Prorated Rent} = \left( \frac{\text{Monthly Rent}}{\text{Days in Month}} \right) \times \text{Days Occupied} \]

Prorated Rent:

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1. What is Prorated Rent?

Prorated rent is a calculation used to determine the fair rental amount when a tenant occupies a property for only part of a month. It ensures tenants only pay for the days they actually occupy the unit.

2. How Does the Calculator Work?

The calculator uses the standard prorated rent formula:

\[ \text{Prorated Rent} = \left( \frac{\text{Monthly Rent}}{\text{Days in Month}} \right) \times \text{Days Occupied} \]

Where:

Monthly Rent — The full month's rental amount
Days in Month — Total days in the month (typically 28-31)
Days Occupied — Number of days the tenant will occupy the unit

Explanation: The formula calculates the daily rate by dividing the monthly rent by the number of days in the month, then multiplies by the number of days the tenant will actually occupy the property.

3. When is Prorated Rent Used?

Common Scenarios: Prorated rent is typically used when a tenant moves in or moves out mid-month, during lease transitions, or for short-term rental agreements.

4. Using the Calculator

Tips: Enter the full monthly rent amount, the number of days in the specific month (usually 30 or 31), and the exact number of days the tenant will occupy the unit. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What if the move-in and move-out dates span multiple months?
A: Calculate each month separately and sum the amounts. For example, prorate the first partial month and last partial month separately.

Q2: Should I use 30 days or the actual days in the month?
A: For accuracy, use the actual number of days in the specific month (28, 29, 30, or 31). Some leases specify using 30 days for simplicity.

Q3: Is prorated rent required by law?
A: Laws vary by location. Many jurisdictions require prorating when tenants move in/out mid-month, but check local landlord-tenant laws.

Q4: How are partial days handled?
A: Typically, any day the tenant has access counts as a full day. Some landlords may round to nearest whole day or use fractions.

Q5: Can this be used for commercial leases?
A: Yes, the same principle applies, though commercial leases may have different terms specified in the contract.