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Prorated rent is a portion of the rent price that’s based on the number of days a tenant occupies the property during a month.
If a resident moves in or out in the middle of the month, then a Prorated rent is charged only for the number of days the unit is occupied. It’s based on a monthly rent rate rather than daily.
What is Prorated Rent?
How to calculate prorated rent
1 Year way (numbers of days in 1 year)
((Monthly Rent x # Months in a Year) ÷ Number of Days in a Year) x Number of Days the tenant is Paying For = Prorated Rent
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Let's say the rent is $2000
( ( $2,000 x 12 )= $24,000 -> ($24,000 ÷ 365 ) $65.75 X 19 = $1,249.25
The 30 day Banker's month way
((Monthly Rent ÷ 30) x Number of Days)
Let's say the rent is $1,500
( ( $1,500 ÷ 30 )= $50 x 25 days = $1,250.00
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