Take the total monthly rent and divide it by the total number of days in the month to get the daily rent amount. In order to prorate rent, you need to first calculate the amount your tenant is paying in rent per day for the month in question. Most billing cycles start on the first of the month, so if your renter wants to move in a few days before or after the first, or they are planning to move out before their month’s billing cycle is over, you may want to consider prorating your rent. Prorated rent is the amount a landlord charges a tenant when they are occupying the rental for only part of the month. According to the Zillow Consumer Housing Trends Report 2020, 35% of renters want to be able to move easily as life changes, and with this in mind, it pays to be prepared to handle prorated rent requests. Boost your rapport with your tenant by having a flexible and fair prorated rent policy. Prorating rent encourages renters to move in sooner, thereby helping you to fill vacancies faster and earn more income on your investment. If this applies to you, understanding how to prorate rent can be beneficial for you and your tenant. But there may come a time when your tenant needs to move in or out of your rental outside of this typical cycle. In a perfect world, renters start their lease - and make their rent payment - on the first day of the month and move out on the last day of the month. How do I prorate rent when my tenant is moving out?.
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