Prorated Rent Calculator

Calculate the prorated rent amount from a given date to calculate the average daily rental cost, number of billable days and amounts due.

Prorated Rent Calculator
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Bill On:
Prorated Rent Results
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Amount per day ():
Billable days ():
Prorated Amount ():
Days in >
Amount per day ():
Billable days ():
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Average Amount per day:
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Prorated Rent: Paying the fair value of the rent

Prorated Rent Calculator. This image provides details of how to calculate the prorated rent using a good calculator and notepad. By using the either of the prorated formula, the Prorated Rent Calculator provides a true calculation of how much rent is due for the period which forms part of a rental period.

Have you found the apartment you have been looking for quite some time and looking to move in in the middle of the month? Even though this may be the apartment of your dreams, paying full rent seems unfair because you have not lived in the apartment for the entire month.

Everyone who rents properties faces this kind of situation at some point of time. It can be tricky to manually calculate the rent you would pay for the portion of the term that in which you are using the property in the first billing cycle.

Prorated rent calculation is the resolution to this problem. Prorated rent is the amount of money a landlord charges a tenant when he/she is occupying the property only for a portion of the term.

Not all rent cycles necessarily start from the beginning of the year or a month. Some tenants might want to move in in the middle of the month or perhaps just 3 days before the month ends. If the property is not occupied, and the landlord is ready to rent the property and the new tenant wants to move in, prorated rent is the easiest way to calculate the exact amount for that portion of the term.

What is prorated rent?

Prorated rent or pro-rata rent is the rent that is calculated proportionately. In other words, if you are occupying the property for only 10 days of current month, you will not pay rent based on total monthly price, but for the number of days you have used the property within the month.

Prorated rent can be made official when you sign the lease or it could already be a prevailing law. It is not only used when moving in, it can be used on moving out as well. It is worth considering that your next landlord might be fine with prorating your rent for the term. However, if you are moving out before your lease expires, you landlord might not support this. When moving out, your landlord may require you to pay for the full month and refuse to prorate your rent.

How to calculate the prorated rent

The most basic method to calculate prorated rent is to determine the daily rent first. To determine daily rental the total number of days are divided by the monthly rent. The daily rent is then multiplied by the number of days the tenant occupies the property. Let's try to understand this better with an example:

Let's say that you have found an apartment in November but for some reason you would not be able to move in before the 18th of December. The new apartment rents for 700 per month, the calculations will go as per the following formula.

Prorated Rent = Daily rent x Number of days occupied (31 - 17 = 14 days)
Daily Rent = Monthly rent / Days in a month (700 / 31 = 22.58)

So:

Prorated Rent = 22.58 x 14 = 316.12

Using the prorated rent calculator

The prorated rent calculator designed by iCalculators is a simple tool that requires following inputs:

  • Move in date - Select your desired date on moving in or in some cases moving out of the property.
  • Monthly rent - Input the amount of Monthly rent.
  • Bill on - Select the date that is decided by the landlord for all future billing cycles.

On the basis of your inputs, the calculator will provide you with a detailed chart that will include:

  • Details of the current month such as: total number of days, billable days of the month, and the amount per day.
  • Details of the upcoming month, such as: total number of days, and rent amount per day.
  • The results - your total billable days along with the amount of prorated rent.

Benefits of using the calculator

The prorated rent calculator is created to make your calculations easier, it supports you in a way that saves you time and money. The calculator is online, easily accessible and provides you with accurate numbers that saves you from overpaying on your rent.

Summary

There can be a number of reasons a landlord would choose to prorate the rent. It could be mid-month moving-in, legally breaking the lease, or perhaps the tenant wants to stay for a little while longer until the next property becomes available. Sometimes it could be a vacation rental that is rented for odd number of days or the property is being sold while it's being occupied by the tenant. All these reasons require the rent to be prorated and using a calculator is quite useful to do that.