Calculate daily rent from monthly rent, total rent from a daily rate, or prorated rent using actual-month, 30-day, and annualized 365-day methods.
Daily Rent Formula
The following formula gives daily rent under the annualized 365-day convention. Other selectable bases divide monthly rent by 30 or by the actual 28–31 days in the calendar month.
- Where Rd is the Daily Rent ($/day)
- Rm is the total monthly rent ($)
For the annualized 365-day method, multiply monthly rent by 12, then divide by 365. Use the method in your lease. Prorated rent multiplies the unrounded daily rate by chargeable days and rounds once to cents; calculate one partial calendar month at a time.
How to Calculate Daily Rent?
The following example problems outline how to calculate Daily Rent.
Example Problem #1:
- First, determine the total monthly rent ($). In this example, the total monthly rent ($) is given as 2500.
- Finally, calculate the Daily Rent using the equation above:
Rd = Rm * 12 / 365
The values given above are inserted into the equation below:
Rd = 2500 * 12 / 365 = 82.19 ($/day)
Example Problem #2:
The variables needed for this problem are provided below:
total monthly rent ($) = 1500
Entering these values and solving gives:
Rd = 1500 * 12 / 365 = 49.31 ($/day)
