Need help Pro Rating rent the correct way for the lease

3 Replies

Hi everyone, I need some advice on how to structure a 12 month lease prorating rent. The tenant begins her lease on July 15 and the total term is 12 months. She will give first and last months deposit upon signing the lease. Monthly rent is 1450$ The plan is to collect first , last month rent and then on August 1st $725 and September 1st it goes back to normal 1450$ monthly due on the 1st. Does this seem accurate ? Also how should this be reflected on the lease to avoid putting down lease start date of 15th and do 1st instead ? Thanks in advance :)

@Pavel K.

Yes, this seems to be accurate from what I can see.  Always collect full rents at the lease signing and take the prorated amount on the following first of the month.  This is described in the lease I use so everyone is clear about how payments will be made.

Hey there - I just finished and signed a lease for the same exact situation (tenant moving in July 15).

The way I did it was the terms of the lease were the actual dates tenant would be occupying the property (July 15, 2018 - July 14, 2019). And then I simply required half months rent up front for July 15-31, along with last months rent. I then put a provision in the lease stating “Monthly payments due on the 1st of each month will commence on August 1, 2018”

I hope this helps.
-Kevin