Enter your monthly rent, total days in the month, and the days occupied to calculate your prorated rent.
Prorated Rent Calculation Formula
The following formula is used to calculate prorated rent based on your monthly rent and the number of days occupied.
Prorated Rent = (Monthly Rent / Total Days in Month) * Days Occupied
Variables:
- Prorated Rent is the rent amount for the occupied days ($)
- Monthly Rent is your total rent for the month ($)
- Total Days in Month is the number of days in the month (e.g., 30, 31)
- Days Occupied is the number of days you occupied the rental property
To calculate the prorated rent, divide the monthly rent by the total days in the month to get the daily rent rate, then multiply by the number of days occupied.
What is Prorated Rent Calculation?
Prorated rent calculation is the process of determining the amount of rent due based on the number of days a tenant occupies a rental property. This is especially useful when a tenant moves in or out in the middle of a rental period. Proper prorated rent calculation ensures fair and accurate rent charges, reflecting the actual occupancy period.
How to Calculate Prorated Rent?
The following steps outline how to calculate prorated rent using the given formula.
- First, determine your monthly rent amount.
- Next, determine the total days in the month of occupancy.
- Determine the number of days occupied within the month.
- Use the formula from above: Prorated Rent = (Monthly Rent / Total Days in Month) * Days Occupied.