When you are moving in or moving out on a day that is not the first or the last day of the month, you will need to pay a prorated amount. That amount is not the full amount but a portion of the rent calculated based on your move in or move out day. If your landlord or leasing agent hasn't told you, no worries, there are plenty of online tools to help you prorate rent.
When determining a prorated rent amount when moving in, "Take your monthly rent and divide it by the number of days in a month. You multiply this amount by the number of days (you) will occupy the unit,"according to My Smart Move. "You multiply this amount by the number of days the (you) will occupy the unit. For instance, say (you) are moving in on the 25th of September and the full rent is $1,200. Calculating by the number of days in a month would look like this: 1200 (rent amount)/30 (days of the month) x 5 (days you will be living in the unit) = 200 (prorated rent). Therefore, $200 would be the prorated rent."
If you are planning to move out and you definitely don't want to pay a full month's rent, use the above equation to determine your prorated rent to move out. However, keep in mind some landlords might expect the full amount of rent paid at move out whether you stay there the full month or not. Be sure to check with your landlord first.
The prorated rent calculator on Turbo Tent is useful. Others include: Apartment Guide. You can learn more about prorated rent at RentCafe. A trusted source for many professionals in the property management industry.
Nicholl McGuire is the owner and contributor of this blog.
