Prorated rent is the amount of money a landlord charges a tenant when he or she is occupying the unit for a partial term.
It’s a way for landlords to fairly charge renters who don’t stay in a rental property for a full month.
Formula to calculate prorated rent.
Example:
If the monthly rent is $ 150, calculate the prorated rent of a tenant who stayed for 10 days and moved.
Therefore, the prorated rent is $ 50.
