I'm new to the landlord gig.. Seeing that not all months have 31 days, can someone tell me how they prorate a month's rent? Is the total month's rent divided by 30 or 31 days? Thanks so much.
We collect first months rent at move in and prorated second month (to secure as much money up front as possible.) To prorated, you divide the rent by days in the month and multiple by the number of days tenant lives there.
I like the idea of collecting the full month up front and pro rating the second. Thanks so much for the advice..