Free Prorate Calculator
Free Prorate Calculator
If your tenant doesn’t move in on the first day of the month, how do you work out how much rent is due for that first payment period? Use our Prorate Calculator to easily calculate the prorated rent.
Prorated Rent
$0.00
Prorate Days
0
Rent Per Day
$0.00
About Prorate Rent
What Is Prorated Rent?
Prorated rent is a method used to calculate the amount of rent owed when a tenant occupies a property for less than a full billing cycle.
For instance, if a tenant moves in on the 14th but the billing period starts on the 1st, you’ll need to determine how much they owe for the remaining 16 or 17 days of that cycle.
Why Do You Need To Prorate Rent?
Prorating rent ensures that the tenant only pays for the exact number of days they’ve occupied the property.
If a tenant moves in midway through a monthly lease period, this calculation helps determine the precise amount they need to pay for that partial month.
Manually
Calculating
Prorated Rent
Although using a prorate calculator is more convenient, you can manually determine prorated rent with some basic math. Below, we’ve included the equations to give you a clearer understanding of how the calculation works. Knowing how to do it manually allows you to verify any online calculator you use.
The simplest way is to find the daily rental rate and multiply it by the remaining days in the billing cycle.
1. Monthly Rent / Days of Month = Daily Rate
2. Days of Month – Date tenant moves in + move-in day = Days left in Billing Cycle
3. Daily Rate * Days left in Billing Cycle = Prorated Rent
Example
◉ Monthly Rent $800.
◉ 30 Days in the billing month.
◉ The billing cycle starts on the 1st.
◉ Tenant moves in on the 7th.
Steps
◉ 800 / 30 = $26.67
◉ 30 – 7 + 1 (move in day) = 24
◉ $26.67*24 = $640.08
The Prorated rent for this example
$640.08
Prorate Calculator FAQs
Why Should I Prorate Rent?
Prorating rent ensures tenants only pay for the exact days they occupy the property, providing a fair and accurate payment amount.
How do I calculate prorated rent?
To calculate prorated rent, divide the monthly rent by the number of days in that month to get the daily rate, then multiply the daily rate by the number of days the tenant will be occupying the property.
What If Rent Isn’t Due on the 1st?
If rent starts on a different date, calculate the prorated amount for that partial period, and the full rent cycle will begin from the next regular due date.
