Pro-rate the rent or not?

Question

This is the middle of the month...can I/should I still ask for full rent from new renters or pro rate? Thanks.

Answer 1

You can either prorate this month OR get a full months' rent up front (a better idea) and prorate the second month. And of course, always get move-in money in guaranteed funds (cashiers' check or money order).

Answer 2

I usually pro-rate their rent.  I am sure you know how to do that, and I don't want to make you feel stupid...but I take the amount of rent and divide it by 31 (days this month), then I multiply the daily rate by how many days are left in the month.  But, if it is real close to the end of the month, say on the 26th, I make them pay from the 26th to the 31st, + the whole balance of next months rent.  Hope this helps!

Answer 3

Pro-rate.  You can't really expect new tenants to pay for the whole month if they don't move in till the middle of the month.  The alternative would be for them to wait and move in on the first of next month -- you would be out half a month's rent.

Answer 4

you can prorate rent but why not start the monthly rent due on the 15th of the month.  you can do either but it is better to have the money in your hand then leave it to the tenant.  you don't know if they will have the monthly rent in 15 days.

Answer 5

Pro-rate!

Isn't it obvious?

Answer 6

It's common practice to prorate.  Yes, you can charge anything you want as long as your renters agree to it, but but why would they agree to pay for a whole month if they are only there for part of the month?  Would YOU want to pay a whole month's rent and only get half a month's housing?  Or pay a whole month's mortgage and only get credit for half?  People expect to get what they pay for, and it's a fair practice to prorate.

Answer 7

melldiva has the right idea.

Most experienced landlords will charge a full months rent for the first month and then prorate the second month.

Answer 8

From a new tenant, you can either pro-rate the rent for the remaining part of the month, or you can make the move-out date the same day as the move-in day, though I do not recommend doing this.  But you do not ask them to pay a full month's rent for a half month's tenancy. If they're desperate with nowhere else to go, they might pay it, but they won't be happy about it and you'll be creating instant ill feelings.  Not a good way to start out.