Calculate the prorated rent you need to pay on your apartment if you are not moving in on the first of the month. Enter the total days you will be living in the apartment for the month and questions, and this calculator will evaluate the prorated rent.
Prorated Rent Formula
The formula for calculating a prorated rent is fairly straight forward. It looks something like this:
Prorated Rent = Monthly Rent/30.5*Days Occupying residence.
Keep in mind, this is only if the landlord agrees to a prorated rent or it’s on the lease.
Prorated Rent Definition
Prorated rent refers to a calculated portion of the total rent amount that is due for a partial month. Prorated rent ensures fair payment for the specific duration someone occupies a rental property, avoiding overpayment or underpayment.
How to calculate prorated rent
The first step to calculating your prorated rent is determine what your monthly rent is. This can be done either on a roommate to roommate basis or on a total rent basis. For this calculation we will assume only one occupant. Let’s assume the apartment costs $1,500.00 per month.
Next, we need to determine how many days you will occupy the residence. This should be noted on the lease you sign. If you sign a lease that starts on the first of the month, you will likely have to pay the full rent regardless of when you move in. For this example we will say we are only living in the apartment for 14 days.
The next step is understanding the total rent on a daily basis. Since the average days in a month is approximately 30.5, we will divide the total rent by that number.
$1,500.00/30.5 = $49.18/day
Now we must must multiply the daily rent times the number of days you will be living in the apartment.
$49.18/day * 14 days = $688.52
Now you have your monthly prorated rent.
FAQ
What is prorated rent?
Prorated rent refers to the portion of the monthly rent that corresponds to the actual number of days a tenant occupies the property in a given month, rather than paying for the entire month. This ensures tenants only pay for the time they are actually living in the property.
How do you calculate prorated rent?
To calculate prorated rent, divide the total monthly rent by the average number of days in a month (30.5) to find the daily rent cost. Then, multiply this daily rent cost by the number of days you will be occupying the property during that month.
Is prorated rent legally required?
Prorated rent is not legally required in all situations. It depends on the agreement between the landlord and the tenant, as well as local laws and regulations. It’s important to check your lease agreement and discuss with your landlord.
Can prorated rent be negotiated?
Yes, prorated rent can often be negotiated with your landlord, especially if you are moving in or out in the middle of the month. It’s important to have this discussion before signing the lease to ensure both parties agree on the terms.
