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Find the rent owed for a partial month when a tenant moves in or out mid-month, by each of the three methods landlords use.
The tenant is charged for this day.
Prorated rent
$725.81
Daily rate
$48.39
Days charged
15
15 of 31 days in the month
| Method | Daily rate | Prorated rent |
|---|---|---|
| Actual days in the month | $48.39 | $725.81 |
| 365-day year | $49.32 | $739.73 |
| 30-day month (banker's month) | $50.00 | $750.00 |
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Prorated rent is the share of a month's rent that covers only the days a tenant actually has the unit. You find a daily rate, then multiply it by the number of days the tenant is responsible for.
On a move-in, the tenant pays from the move-in date to the last day of the month, both days included. On a move-out, they pay from the 1st of the month through the move-out date.
The only real choice is how to find the daily rate, and that is what the three methods disagree about. The prorated amount never exceeds a full month's rent.
Actual days divides the monthly rent by the number of days in that month, so a day in February costs more than a day in March. It is the most common method and the easiest to explain to a tenant.
The 365-day method takes the yearly rent and divides it by 365, so every day costs the same all year. The banker's month treats every month as 30 days, which is simple arithmetic but charges slightly more in 31-day months.
If your lease names a method, use that one. If it does not, pick one, write it into your next lease, and apply it the same way to every tenant.
A tenant moves in on March 17 at a monthly rent of $1,500. March has 31 days, so they are charged for 15 of them, March 17 through March 31.
By actual days the daily rate is $1,500 / 31 = $48.39, and 15 days come to $725.81. The 365-day method gives $49.32 a day and $739.73. The banker's month gives $50.00 a day and $750.00.
This calculator gives an estimate. Your lease and the law where the property is decide how partial-month rent may be charged.
Divide the monthly rent by the number of days in the month to get a daily rate, then multiply by the number of days the tenant has the unit. For a move-in on the 17th of a 31-day month, that is 15 days.
Yes, in the usual practice the tenant pays for the day they move in, because they have the keys that day. On a move-out, the tenant usually pays through the move-out date.
It depends on your lease and local law. Many landlords prorate the first month as a matter of course, and some states require prorating when a tenancy ends mid-month. Check the rules where your property is.
Some landlords collect the prorated rent plus the next full month at move-in when a tenant arrives in the last week, so the tenant never pays two rents a few days apart. Either way, state it in the lease.
Porchyard records each lease's rent, dates and tenants against its property, and you categorize the rent you import from your bank statement to that property's books. Try it free for 30 days.