Prorated Rent Formula:
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Definition: This calculator determines the fair rent amount when a tenant occupies a room for only part of a month.
Purpose: It helps landlords and tenants agree on a fair payment for partial-month occupancy.
The calculator uses the formula:
Where:
Explanation: The calculation divides the monthly rent proportionally based on the number of days occupied.
Details: Ensures fair payment for both landlords and tenants, prevents disputes, and provides transparency in rental agreements.
Tips: Enter the monthly rent amount, number of days the room will be occupied, and days in the month (default 30). All values must be > 0.
Q1: When is prorated rent typically used?
A: When tenants move in or out mid-month, during short-term rentals, or for temporary room rentals.
Q2: What's the standard days-in-month value?
A: Many use 30 days for simplicity, but for accuracy use the actual days (28, 29, 30, or 31).
Q3: Does this include utilities or other fees?
A: No, this calculates base rent only. Utilities and fees should be calculated separately.
Q4: How do I handle move-in on the 15th of a 31-day month?
A: Enter 17 for days occupied (including move-in day) and 31 for days in month.
Q5: Can I use this for commercial properties?
A: Yes, the same calculation applies to any rental property.