Prorated rent is the amount of rent paid for less than a full month. It is calculated based on the number of days a tenant stays in a rental property during a particular month. Prorated rent is often used when a tenant moves in or out during the middle of the month. It is a way for landlords to fairly charge renters who dont stay in a rental property for a full month.
To calculate prorated rent, you can divide the monthly rent by the number of days in the month, then multiply that number by the number of days you will occupy the unit for that month. However, there are other ways that prorated rent can be calculated, such as using the number of days in an average month or a flat 30 days (banker’s month) .
It is important to note that prorated rent is not a legal requirement for landlords, and not all landlords may be willing to offer it. Therefore, it is recommended to be clear in the lease regarding the terms for which a prorated rent payment would be required.