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.
Thanks Shawn. So when structuring the lease itself would the lease start July 15th 2017 and end on June 30th 2018? That’s the part I’m confused about.
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.