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Why would rent be prorated?

While the landlord is often losing money by prorating rent, prorating rent greatly benefits the renter of the space because it: Saves you money: Prorated rent means you only pay for the days you occupy a home. This saves you money because you're only paying a portion of the rent, not the full month's rent.

What is a prorated rent payment?

Also known as pro rata rent, the quick and easy prorated rent definition is rent that's calculated proportionately. In other words, you'll pay rent not based on the total monthly price, but for how many days you used the rental that month.

How do you write a prorated rent?

A tenant is moving in on the 25th of September and the full rent is $1,200. This means that the tenant will occupy the unit for 5 days in the month. Your calculations would look like this: (1200 x 12)/365 x 5=197. This makes $197 your prorated rent.

How do you use prorated rent in a sentence?

Example of when rent is prorated: In order to bring Sandra's due date to the 1st of the month, 14 days must be made up (the 17th through the 31st). The landlord will prorate the rent, calculating the daily rate based on the monthly rate, and multiply that by 14 days.