Leasing tool
When a tenant moves in or out mid-month, you charge only for the days they occupy the unit. Enter the rent, the days in the month, and the days occupied to get the prorated amount.
Formula: Prorated rent = (monthly rent / days in the month) x days occupied
The most common and most defensible approach is the actual-days method: divide the monthly rent by the number of days in that specific month to get a daily rate, then multiply by the number of days the tenant occupies the unit.
Some leases instead use a fixed 30-day divisor (the banker-month method). Whichever method you use, state it in the lease so the math is transparent and consistent for every tenant.
FAQ
Divide the monthly rent by the number of days in the month to get the daily rate, then multiply by the days the tenant occupies the unit.
The actual-days method (using the real number of days in that month) is the most precise and the easiest to defend. State the method in the lease.
