Tenant giving 30 day notice.
We are new to this and actually started as a fluke. We bought a house in a different area before we even listed our house. Long story short we had the opportunity to rent our house during slow winter months and now own 3 rentals!! Our first renters were month to month as we didn't know what our plans were and then decided to move after 5 months. My question is, they have 30 days notice in middle of month, do we need to prorate the next month or do they pay a full month even though they vacated in middle of month? What are the thoughts on this?
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To quote @Account Closed: "I take 30 day notices on any day of the month, then just pro-rate."
I figure, I prorate the rent on the front end if the tenant moves in after the first, so I see no reason not to prorate the rent on the back end when the tenant provides a proper 30-day notice. We, landlords, do not get ahead in this business by nickel-and-diming our tenants at every turn. We get ahead by utilizing sound, fair business practices.