Prorated Rent Calculator

How to Calculate Prorated Rent

Prorated rent is a crucial concept in real estate, especially when tenants move in or out in the middle of a rental period. This guide will walk you through the process of calculating prorated rent.

Prorated Rent Formula

The formula to calculate Prorated Rent is:

$$ProratedRent = (MonthlyRent \div TotalDaysInMonth) \times OccupiedDays$$

Where:

• $$ProratedRent$$ is the rent for the partial period
• $$MonthlyRent$$ is the full monthly rental amount
• $$TotalDaysInMonth$$ is the total number of days in the month
• $$OccupiedDays$$ is the number of days the property is occupied

Calculation Steps

1. Determine the monthly rent for the property
2. Identify the total number of days in the month
3. Determine the number of days the property will be occupied
4. Calculate the daily rent by dividing the monthly rent by the total days in the month
5. Multiply the daily rent by the number of occupied days
6. The result is the prorated rent

Example Calculation

Let's calculate the prorated rent for a property with the following details:

• Monthly Rent: $1,000
• Total Days in Month: 30
• Occupied Days: 15

Step 1: Calculate Daily Rent

$$DailyRent = MonthlyRent \div TotalDaysInMonth$$

$$DailyRent = $1,000 \div 30 = $33.33$$

Step 2: Calculate Prorated Rent

$$ProratedRent = DailyRent \times OccupiedDays$$

$$ProratedRent = $33.33 \times 15 = $500$$

Step 3: Interpret the Result

The Prorated Rent for this property is $500. This means that for 15 days of occupancy in a 30-day month, given a monthly rent of $1,000, the tenant should pay $500.

Visual Representation

This pie chart illustrates the distribution of the monthly rent between the prorated rent for the occupied days and the remaining rent for the unoccupied days.