Prorated Rent Calculator

Table of contents:
This calculator figures prorated rent on a residential rental property. Given the move-in date and the rental monthly rate, the calculator figures out the fractional portion of rent due for that many days left in the month. It also does the same calculation for a move-out date, figuring the fractional rent due for moving out before the given month is over. Leap year is calculated for February too, in applicable months.

Prorated rent is a common technique in rental property agreements. Both landlords and tenants can use this to figure rent. On the landlord's side, it's a time-saver. On the tenant side, sometimes picking the optimal moving date helps keep expenses low, which can be a considerable boost since moving is an expense along with a hassle.

Prorated Rent Calculation

Say, hypothetically, that you have agreed to begin residence on the 20th of March, in an apartment that's $850 per month. There are thirty-one days in March, so that's 11 days of rent due. The prorated rent comes to $329.03, likely to be rounded up to an even $329. Or if you're moving out on June 15th of the same year, the prorated rent from the fifteenth until the end of that month is $425.

This is done by taking the days of the given month, the monthly property rate, dividing the latter by the former, then multiplying times the remaining days.

Landlord / Tenant Rights

Seeing as how so many citizens of the world depend upon rental properties, it's surprising how little either landlords or tenants seem to know about their rights. In the United States, tenant and landlord relations are regulated differently from one state to another. There is no Federal law concerning prorated rent.

Most landlords will accommodate you on the move-in rate, however. You can certainly request prorated rent on moving in, a common courtesy. Be careful to read the rental lease agreement, though, because prorating rent is not a legal requirement. You might get stuck for the full month's rent, even if you move out on the 2nd!

A Word About the Monthly Calendar

It's the need for complex figuring like this that makes one wonder why the calendar isn't set up in a more straightforward manner.

The fact is, wanting things like the days of the year to be set up in a neat, orderly way is the kind of human preference that nature loves to ignore. The Earth actually revolves around the sun once every 365.256 days, so there's no even way to divide the days without having an extra day once every four years.

The factors of 365 = { 5, 73 }, so there's no even way to divide the days unless you want 5 months per year or 73 - either would be confusing! Since we can't have an orderly calendar, the next best thing is the uneven hodgepodge of days we have.

Prorated Rent Calculator

Compound Interest Calculator
Stock Calculator
Prorated Rent Calculator
... more