What is Prorated Rent?

What is Prorated Rent?

Prorated rent refers to the amount of rent a tenant pays for a partial month when they move in or out of a rental property partway through the month. Instead of paying for the entire month, the rent is calculated based on the number of days the tenant will occupy the property. This ensures that the tenant only pays for the days they actually use the rental unit.

For example, if a tenant moves in on the 10th of a 30-day month, they would pay rent for the remaining 20 days of that month. The prorated rent can be calculated using the formula:

Prorated Rent = (Monthly Rent / # of Days in Month) x # of Days Occupied

This method provides a fair and accurate way to charge rent for partial occupancy.

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