Is there a standard Day/Month proration for Rentals

General Landlording & Rental Properties
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Is there a standard Day/Month proration for Rentals

Daniel Dube
Member since 2021 · 12 posts · 0 votes

Hey team,

I was just wondering if there is a standard number of days used to calculate daily rent proration or is it based on the actual month it's in?

This month being 28 days means each day costs more than a 31 day month, but I don't want to look like an amateur if everyone uses 30 days as a standard month length. 

Thanks,

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  • Julie Hartman
    Property Manager · Denver, CO · Member since 2021 · 667 posts · 587 votes
    5y

    We use the actual month we're in at the time of the proration. 

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  • Chad HalePro Member
    Property Manager / Investor · San Jose, CA · Member since 2013 · 779 posts · 301 votes
    5y

    30days per month regardless of actual days in month.  Also specified in the lease.

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  • Marc Winter
    Real Estate Broker · Northeast PA · Member since 2017 · 2k+ posts · 2k+ votes
    5y

    I'm with @Chad Hale--always 30 days.

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y

    Interestingly, standard bank prorations use to be 30 days, 360 days a year for calculating interest and probations. Now banks use either that, or actual days, and use the one that comes out in their favor.

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  • Greg M.
    Rental Property Investor · Los Angeles, CA · Member since 2017 · 2k+ posts · 5k+ votes
    5y

    Proration when moving in I use the days in that month. 

    I don't prorate if you move out before the end of the month. 

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  • Daniel Dube
    OP
    Member since 2021 · 12 posts · 0 votes
    5y

    Thanks guys,

    I'm actually closing on a multi-family and the seller will be paying me prorated rents and I just want to make sure I'm not getting less than I thought while at the same time, not looking foolish by bringing it up needlessly. It sounds like there is no concrete answer, but 30 days seems to be the general consensus.

    I appreciate your help

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  • Catherine Emert
    Realtor · Bend, OR · Member since 2018 · 323 posts · 224 votes
    5y

    @Daniel Dube - this would be a great question to ask the escrow officer handling your closing - they usually review the lease and make sure the proration is followed per the lease - in Oregon it is standard to do 30 days for every month no matter how many days there are. 

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