Renter ready to move, question about pro-rating.
Hi guys,
I have a motivated tenant looking to move. He has to give 1 month's notice to current land lord. I'm not exactly certain how the dates/math all works out. Does 15 days notice mean on a given day (ex: 24th->24th?), or does it mean on the given month of lease (1st to 1st?). I'd like to request 15 days move in, any longer is a stretch. How do I best work this out with the renter?
The rent is $1250, and deposit is 1.5.
I'm thinking:
Deposit paid on 1/25: 1875
Move in Date: 2/15 (which is 22 days later)
On the Move in - Pay full month. (Could be tough, due to having 2 apartments at once). Then on the next month, pro rate February. How do we prorate the balance?
Also, does anyone happen to have a hold agreement form?