View Full Version : Prorate rent
lcardinal
Apr 1, 2009, 12:19 PM
Please tell me the correct way to pro rate rent for a tenant who is moving in on the 10th of the month.
Thank you
MaggieMouse
Apr 1, 2009, 02:34 PM
monthly rent / (30 or 31) days x days occupied (20 or 21)
amricca
Apr 1, 2009, 02:38 PM
Maggie is right on except for the days occupied, should be 10 right? So Divide the rent by the number of days in the month, that will give you the cost per day. Then multiply the cost per day by the number of days they will occuping the place (10 right?).
MaggieMouse
Apr 1, 2009, 02:41 PM
Moving in on the 10th means the tenant was not there for the first 9 days of the month and he will be there from the 10th. How many days are there from the 10th to the end of the month.
You can use 10 only if the tenant is moving OUT on the 10th, which he occupied 10 days.
amricca
Apr 1, 2009, 02:56 PM
Opps, I read that wrong, you are 100% correct Maggie.
Fr_Chuck
Apr 1, 2009, 02:57 PM
Well first of course are you wanting rental law, or how to post this in the accounting books , since you posted this in accouting,
In rental, normally you don't prorate for people moving out, unless you already have the unit rented to someone else. Normally rent is payable for the entire month, so they would really owe the entire monty from most rental agreements.
I
lmortensen
Apr 4, 2009, 08:27 AM
How do you prorate rent?