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
Prorated rent in simple terms is simple the total rent due for a month of rent in which you are not moving in on the first of that month. This is used so you only pay what is necessary for the days you live there.
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.
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.