1. How is prorated rent calculated?
We calculate prorated rent using the following formula:
📌 Prorated Rent = (Days Living in the Home) × (Total Monthly Rent ÷ 30)
This means we take your total monthly rent, divide it by 30 (to get a daily rate), and then multiply that by the number of days you’ll be living in the unit for that month.
2. Why do you divide by 30 instead of the actual number of days in the month?
We use a standardized 30-day month to ensure consistency and fairness across all leases, regardless of whether a month has 28, 30, or 31 days. This simplifies calculations and prevents rent amounts from fluctuating unpredictably based on the length of a particular month.
3. What if the month has 31 days? Won’t I be overcharged?
No, because your full rent amount remains the same for a standard month. The formula simply spreads your rent evenly across a 30-day period, ensuring a fair daily rate. Some months will have 31 days, but others (like February) will have fewer, balancing out over time.
4. What if I move in or out in the middle of the month?
If you move in on a date other than the 1st or last day of the month, we apply the prorated rent formula to charge you only for the days you’ll be living in the unit.
For example:
• Move-in date: June 10
• Monthly Rent: $1,500
• Days living in the unit: 21 (June 10–June 30)
• Daily rate: $1,500 ÷ 30 = $50 per day
• Prorated rent due: 21 × $50 = $1,050
5. Is this method standard in the rental industry?
Yes! Many rental companies and landlords use a 30-day standard to calculate prorated rent. This approach simplifies billing, avoids confusion, and ensures a predictable and equitable method for all residents.
6. What if I move out in the middle of the month – do I need to pay the rest of the month?
This depends on your written lease agreement. Some of our leases (especially in popular student living areas) may expire a few days before the end of the month to allow a maintenance time period where we can restore the space so it’s ready for the next tenant to move into on the 1st of the month. You can find this information in your written lease agreement under the section “Lease Term.”
7. Where can I find my prorated rent amount?
If you need your exact prorated rent amount, you can refer to your lease agreement or contact our office, and we’d be happy to calculate it for you.
Let us know if you have any other questions! 😊
