Prorated Rent Calculator

How do you prorate rent?

Prorating rent is simple with our prorated rent calculator. Whether you are moving in or out, all you need is your rent amount, the month of move-in or move-out, and additional move-in costs, if applicable. The result of this operation is the prated rent amount for the partial month of renting. For more details on how it works and what each input means read below.

What is prorated rent?

Prorated rent is the amount a property manager or landlord charges their tenant when their tenant is only occupying the property for a part of the month. This most commonly occurs when a new tenant is moving in mid-month. Rather than paying for the full month, they are only responsible for paying for the portion of the month when they are actually living in the property.

Why do I need to prorate rent?

A prorated rent is typically suggested for any time period when the tenant is vacating the property for part of the month. The property manager chooses to charge a prorated rent amount so their tenant can move in as soon as possible. The renter agrees to pay this discounted rent amount rather than being charged for a full month.

Our prorated rent calculator has the correct calculations for both tenants moving in and tenants moving out. The move-in calculator has a few more inputs as there are typically more costs incurred at the start of a lease, such as a security deposit and pet fees.

Monthly Rent

The monthly rent is the agreed-upon amount of rent that the tenant will pay every month. Wondering how much you should charge for rent? Get a free rent estimate report here.

Move-In Month and Day of Month

The move-in month is as simple as it sounds – it is the month they are moving into the rental property. The move-in day of the month is the day the tenant is planning to move in such as the 4th or the 16th.

Security Deposit

The security deposit is the amount of money landlords collect from tenants to ensure they intend to move in and take care of the apartment. If there are damages at the end of the lease, landlords can use the security deposit towards those damages.

Other Move-In Costs

Other move-in costs that might need to be factored in are parking, pet deposits, and more. Regardless of what the other costs may be, it’s important to include them in the move-in costs so landlords and tenants know exactly how much should be paid at the start of the lease.

Example Using the Prorated Rent Calculator

If a tenant moves into a rental on December 17th, the rent due would be a little less than half of the month’s typical rent amount. If the monthly rent is $1,000, to calculate the prorated rent amount, you would enter $1,000 for the monthly rent, December as the move-in month, and the 17th for the move-in day of month. Plus, if there was a $200 security deposit and a $50 parking fee, you’d enter those in the additional move-in costs section. After inputting correct numbers, the prorated rent without additional costs would be $483.87 and with additional costs would be $733.87. Jump to the calculator.

Tips to keep in mind when prorating rent

Calculating prorated rent isn’t rocket science, but here are a few things to consider that will ease the process:

• Put your prorating policy in writing or incorporate it into your lease contract, so there are no surprises or conflicts down the road. If it’s a leap year, divide your yearly prorated calculation by 366 days instead of 365.
• Generally, it is not your responsibility to prorate rent if a tenant signs a lease on the first on the month, but chooses to move in later. The same applies if a tenant’s lease runs to the end of the month, and they choose to move out earlier.