Prorated Rent Calculator
Calculate the rent amount due for a partial month based on the monthly rent, days occupied, and the specific month.
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Understanding Prorated Rent
Prorated Rent is the amount of rent charged for a period that is shorter than the standard rental term (usually less than a full month). This typically occurs when a tenant moves in or moves out in the middle of a month.
Calculation Method Used Here:
This calculator determines prorated rent based on the **actual number of days in the specific month** for which the rent is being prorated. This is often considered the fairest method.
- Calculate Daily Rent: The full monthly rent is divided by the total number of days in the specific calendar month (e.g., 30 for April, 31 for May, 28 or 29 for February).
Daily Rate = Monthly Rent / Total Days in Month - Calculate Prorated Rent: The daily rent rate is then multiplied by the number of days the tenant is actually occupying or responsible for the property during that month.
Prorated Rent = Daily Rate × Number of Days Occupied
Other Prorating Methods (Not Used Here):
- Banker's Month: Assumes every month has 30 days. (Monthly Rent / 30) * Days Occupied. Simpler but less precise.
- Based on Days in Year: Calculates a daily rate based on the entire year. ((Monthly Rent * 12) / 365) * Days Occupied. Averages out monthly variations but doesn't reflect the specific month's cost accurately.
Why Prorate?
Prorating ensures that tenants only pay for the days they actually have possession of the property during partial months at the beginning or end of their lease term.
Check Your Lease!
While calculating based on days in the month is common, your specific lease agreement might stipulate a different method for calculating prorated rent. Always refer to your lease for the definitive calculation method.
Frequently Asked Questions (FAQs)
How do I determine the "Number of Days Occupied"?
If moving in mid-month, count from the move-in date to the last day of the month (inclusive). If moving out mid-month, count from the first day of the month to the move-out date (inclusive).
Does this calculator handle leap years?
Yes. By asking for a date within the relevant month, the calculator determines if it's February in a leap year (29 days) or a common year (28 days) and uses the correct total days for the calculation.
What if the lease specifies a different method?
The method outlined in your legally binding lease agreement always takes precedence over any online calculator. Use the method specified in your lease.
