Prorated rent is when the landlord only charges their tenant for the portion the tenant actually spent living in the rental. It is most commonly done when a tenant is moving in or out in the middle of the month. The easiest way to calculate this is by multiplying the monthly rent by twelve (12), dividing it by 365, and then multiplying the result by the number of days the tenant will be occupying the unit (out of a month).
Example: If the tenant will be living in the rental for only ten (10) days out of thirty (30) and their monthly rent is $1,200, the calculation would be:
(($1,200 X 12) ÷ 365) X 10 = $394.52
Prorated Rent Calculator: Rentvine