Free Prorated Rent Calculator
Tenant moving in on the 16th? Moving out mid-month? Enter the monthly rent and the date, and the calculator shows the prorated rent three common ways so you can see the difference before you put a number on the invoice. The sample numbers are hypothetical, so replace them with your own.
The three ways to prorate rent
There's no single universal method. These are the three you'll see most often:
- Actual days in the month: monthly rent ÷ number of days in that month × days the tenant occupies the unit. A move-in on the 16th of a 30-day month pays for 15 days. This is the most intuitive method for tenants, but the daily rate changes from month to month.
- 365-day year: monthly rent × 12 ÷ 365 × days occupied. The daily rate stays the same all year, so February and July cost the same per day.
- 30-day month (sometimes called the banker's month): monthly rent ÷ 30 × days occupied. Simple to do by hand, though it treats every month as 30 days.
The calculator counts the move-in day as a paid day, and for a move-out it counts the 1st through the move-out date.
How to keep proration from causing arguments
- Pick one method and write it into the lease. If your lease or local law already specifies a method, use that one. Rules vary by state and city, so check what applies to you.
- Show your math. Put the method, the daily rate and the number of days on the first invoice or receipt. Here's how to write a rent receipt that covers it.
- Decide what the first payment covers. Some landlords collect the prorated amount plus the first full month at move-in. Others collect the prorated amount only. Either way, put it in writing.
- Add it to your move-in paperwork. It fits right into the landlord move-in checklist.
Track it once it's collected
The Landlord Operations Kit ($15) has a rent roll and tenant ledger where a prorated first month sits right next to every full month that follows. Just getting started? The free Single-Property Tracker covers one rental.
More free tools: rent increase calculator, cap rate calculator, cash-on-cash return calculator and CapEx reserve calculator.
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Estimates for planning only. Not legal advice. Check your lease and your state and local rules. Jon, Everyone's Landlord