Multifamily Rent Proration For unpaid tenants

[Chase Gochnauer]

How have others handled rent proration for tenants that have not paid at the time of closing. Example, if closing Jan 15th, and 5 tenants have not yet paid Jan rent and one or two have not paid part of Dec and Jan, how is that typically handled at closing? The contract is not detailed in regards to this.

[Matt H.]

Okay so I'm clear there is approx 16k in uncollected rent for Jan. And using Jan 15th closing as an example you should have been credited 8k if he collected. And since he didn't he wants you to credit him the 8k of 1/-1/15 assuming you'll get the 16k later? He's dreaming, tell him to shove off. You honestly won't likely collect any of that and if you do you've earned the entire thing. Tell him he's lucky you're still closing with a bunch of tenants that need to go right out of the gate.