Prorated rent calculators help users figure out how much rent they owe if they move into a rental property after the designated monthly billing date or leave before the full month is up. This allows the new tenant to avoid overpaying by paying for part of a month's tenancy without occupying the property for a full month. There are multiple types of online calculators that help tenants figure out the exact amount they owe for a prorated tenancy period, and they typically require users to enter information such as the full rent amount, move-in date and billing date, states FreeRentalSite.com.
To calculate pro-rated rent, perform each of the following steps in order.
- Determine exact dates and rent amount
- Find a prorated rent calculator
- Enter information
- Check results
In order to get accurate results from a prorated rent calculator, users need to know exact figures rather than estimates. This means that users need to know the date on which rent is normally billed, the exact amount of the monthly rent and the move-in date.
There are multiple sources for accurate prorating calculators online. Performing a search for "pro-rated rent calculator" returns useful results.
Users should enter in precise information into the prompted spaces, which may include blank information boxes. Some online calculators may also use dropdown menus from which users must choose a specific move-in date, states MrLandlord.com.
In this optional step, users can check the results they got from one pro-rated rent calculator by plugging the same information into another calculator. This can help ensure accurate calculations.