All Forum Posts by: Kyle Pulleb

Hey Theresa,

Some dates were rounded for the sake of example and seeing your response I guess it should be more clear. Would you suggest the same for a date like the 24th? 

Hello BiggerPockets community,

I'm having some confusion with standard practice for 'First, last, deposit' collection in the scenario that the first month will be prorated.

Say for instance: My property has a rent of $1000 monthly with a deposit of one month's rent ($1000), and a targeted lease start of the 15th.

Given that rent will be due on the first of every month, what is the amount which should be collected for the initial 'First, last, deposit'?

If 15/30 days remain for month 1 would it be:

1000 + 1000 +1000 or (1000 x .5) + 1000 +1000