If you’re a potential tenant who recently found an apartment you can afford and it meets all your criteria, you’ll likely want to move in as quickly as possible. In this case, your move-in date probably won’t be on the first day of the billing cycle. Instead of having to pay rent for a whole month when you are only occupying the place for part of the first month, the property manager will have you pay prorated rent.
Prorated rent helps the property manager fill an apartment quickly and allows for the tenant to move in as soon as possible. To find this value easily, we created a prorated rent calculator.
Prorated rent is the amount a property manager or landlord charges their tenant when their tenant is only occupying the property for a part of the month. This most commonly occurs when a new tenant is moving in mid-month. Rather than paying for the full month, they are only responsible for paying for the portion of the month when they are actually living in the property.
Fill in the monthly rent amount for your new apartment, your move in date and what day you’ll be billed. Press calculate to find out what your prorated rent will be for the first month in your new home.
Please complete all fields in order to calculate prorated rent due.
A prorated rent is typically suggested for any time period when the tenant is vacating the property for part of the month. The property manager chooses to charge a prorated rent amount so their tenant can move in as soon as possible. The renter agrees to pay this discounted rent amount rather than being charged for a full month.
Prorated rent can be calculated in a few easy steps:
This will give you the total amount of prorated rent that is due.
Let’s say your rent is $1,500 and you are moving into an apartment on June 12. Your billing date is on the first of the month.
To calculate the prorated rent:
In the scenario, you would be responsible for paying $950 for June.
Sometimes rent will be due on the 10th or 15th of the month. If your rent is due on a day that’s not the first of the month, you can still find your prorated rent amount with these steps:
Next, you’ll repeat this process with the days in the following month.
To finish, add these values together.
If your rent isn’t due on the first, the calculation can be a little trickier. For example, let’s say your rent is $1,500 and you are moving in on June 23. Rent is due on the 10th.
To find prorated rent:
Prorating your rent based on the number of days in the month is the most common way to calculate this rent amount. However, you may encounter other variations of prorated rent.
Some choose to prorate rent based on the number of days in the year. To do this, you would take the total yearly rent amount and divide it by the number of days in the year. This will give you a price per day that you can multiply by the number of days you’ll occupy the apartment.
There are a few factors you’ll have to consider when calculating prorated rent. These can influence how to prorate rent for your situation:
Prorated rent is typically paid in the move-in month and the lease officially starts the following month. This means you’ll be liable for paying rent through the term of your lease. If you move out early, you’ll still be responsible for the rent cost.
If your property manager allows you to move out early and pay a prorated move-out amount, you can calculate it using the same equation. Instead of calculating the number of days from move-in until the beginning of the billing cycle, you’ll calculate the number of days from the beginning of the billing cycle to move-out day.
You can qualify for prorated rent if you are moving into an apartment before the start of your billing period or if you are moving out of an apartment before the start of a new billing cycle. It’s custom for property managers to offer prorated rent when you are moving in before the billing cycle. If this is the case, it will be explained in your rental contract. If it’s not mentioned, you’ll need to request prorated rent.
It’s less likely that you’ll be granted prorated rent if you are moving out early. Typically, you’ll be responsible for paying in full for all time your rental contract outlines. If you are subletting your apartment, you can use the prorated rent calculator to find how much the new tenant should pay.
If you are requesting a prorated amount for your move-in month, be sure to bring this up before you sign your lease. Ask your property manager in person or in writing if they would be willing to prorate your rent. Be sure to be polite while you’re making your case for what’s fair.
If they agree, be sure this prorated amount is written in your lease. Double check the amount with our prorated rent calculator. If you have any questions or concerns, voice them before signing the lease. As soon as it’s signed, you’ll be responsible for what’s written in it.
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