The prorated rent calculator helps you easily calculate your rent when moving in or out mid-month, ensuring accurate and fair adjustments.
No matter whether you're a property owner, real estate investor, or landlord, you want to ensure that your property remains occupied at all times. Regardless of the day of the month a tenant moves in or out, you want to ensure that you don't miss any profit. In such situations, you expect your tenant to pay for the exact number of days they occupy the property which is also referred to as prorated rent.
If you're a tenant, you want to pay only for the days you move in or out of the property, in simple words, the partial rent for the days you actually lived there.
In simple words, prorated rent is the amount the tenant pays based on how many days they stay in the rented property rather than a full month, e.g imagine renting an apartment or moving out and it's the 10th January of the month so instead of paying for the full month you would pay for the 20 days, which is approx. 66.7% of the full month's rent (assuming a 30-day month).
Actually the prorated rent is a win-win, the tenant pays for the days they live there and the landlord receives the fair payment for the time the property was rented.
Imagine that you have rented an apartment on the 18th day of the 30-day month, so in that situation paying for the full month's rent does not make sense, right? Similarly, if you're leaving the apartment before the end of the month the landlord should ideally not charge for the days you did not stay there.
However, the prorated rent avoids misunderstandings between the tenants and the landlords, and it keeps the process fair and transparent.
When Do You Pay Prorated Rent?
You can calculate the prorated rent in a simple and straightforward way by using our prorated rent calculator, as you just need to know those key details in order to calculate prorated rent:
Inputs:
______ ____________Here are the Steps:
By filling all those details in the fields, you will get the result immediately.
You may want to know that how the prorated rent is calculated, here is the very simple formula:
Prorated Rent = (Monthly Rent / Days in Month) ?? Days Occupied
Example Calculation:
Monthly Rent: 1500Tenant moves in on the 18th of a 30-day month.Daily Rent = 1500 / 30 = 50 per dayDays Occupied = 13 days (from the 18th to the 30th)Prorated Rent = 50 x 13 = 650The calculated amount is 650, which the tenant pays for the partial month.
The prorated rent is the partial rent amount calculated when a renter occupies the rental properties in the middle of the month instead of the 1st day of month. The prorated rent allows renters to pay only for the exact number of days they stay or live in the property instead of paying for the full month.
The prorated rent is calculated based on the daily rental rate, which is derived from the monthly rent (e.g 500 rent monthly) divided by the number of days in a month (e.g 30-day month) and the renter pays the daily rate multiplied by the exact number of days they stay or live in the property (e.g 16 days).
Here is the Formula for Prorated Rent:
Prorated Rent = (Monthly Rent / Days in Month) ?? Days Occupied
Example of calculation:
5003016th of the month (14 days are Occupied)Here is the calculation:
Daily Rent = Monthly Rent / Number of Days in Month = 500 / 30 = 16.67 per dayProrated rent = 16.67 ?? 14 days = 233.38The renter pays 233.38 for the partial month.
The prorated rent applies when a tenant moves in or moves out of the property after the 1st of the month, or when a tenant rents the property for less than a full month. The prorated rent ensures that the renter pays for only the days they actually live in the rental property and the landlord receives fair payment for the days the tenant occupied.
The prorated rent makes the process fair and transparent for both tenants and the property owner. By adjusting the payment for the specific number of days a renter occupies the property, prorated rent ensures that neither party pays or receives more or less than what is fair for the time the property is occupied.
Yes, it actually depends on the landlord???s policies, circumstances, and rental situation for the prorated rent negotiation. if your lease agreement does not specifically mention prorated rent you can open a discussion with your property owner to request for a fair adjustment.
It actually depends on, for example if you rent included the utilities bills and other fees, then your prorated rent typically will also cover the proportional amount of these costs. However, if you pay separately utilities bills and others costs, etc then typically it is not included in the prorated rent.
You can use the calendar to know the exact number of days in a month for the prorated rent calculations, as the days in the month do vary:
28 days (29 days in leap years)30 days31 days.| Month (First Half) | Days | Month (Second Half) | Days |
|---|---|---|---|
| January | 31 | July | 31 |
| February | 28 (29 in leap years) | August | 31 |
| March | 31 | September | 30 |
| April | 30 | October | 31 |
| May | 31 | November | 30 |
| June | 30 | December | 31 |
If you move in mid-month, then you are responsible for paying the prorated rent from your move-in date to the end of the month. Conversely, if you move-out in the middle of the month, you will have to pay the prorated rent from beginning of the month to your move-out date.
Typically, in most cases, the prorated rent is calculated based on the full days not partial days. Whether you move in the morning or late in the evening the day is counted as one full day for prorated rent, but it can also depend on property owner's policies.