Prorating Tips – I don’t always prorate rent for new tenants or for good tenants. } days(); To use this calculator, simply put in the following information: 1) Which month that the rent will be prorated for the resident. Tips to increase income, save time, plus powerful resources and tools. } document.wheel.prem.value = p; Number of Days Please enter close date Per Diem Amount 0.00 Pro Rate Tax Amount 0.00 All rights reserved. The default will display short rate factor for a one year policy which is 90% of pro rata factor. } var wdate = "eff"; If the 1st falls on a Sunday and I have plans will it really hurt me to meet the tenant, sign all the paperwork and provide them early access on Friday? if (parseInt(yr/4)==yr/4 && (parseInt(yr/100)!=yr/100 || } if (month != "" && wdate=="eff" ) document.wheel.xmonth.value = parseInt(m); var yr = document.wheel.eyear.value; } var p = document.wheel.prem.value; m3 = cvtint(m3); By entering your email, you agree to our. Feel free to plug in your own numbers and play with the Prorated Rent calculator yourself. if ( m==1 ) { else return 0; All of these require figuring out how much to charge for a certain amount of days in the month versus the full month which is called prorating rent. var f = u2/t; var year = document.wheel.eyear.value; In cases like this the \$60 or \$70 I miss out on are worth the convenience and the gratitude it earns from the tenant. You may have a tenant moving out of a property early in which case you may be considering reducing their total rent for the month. While it’s easier to simply use a prorate calculator, you can use some basic math to manually determine prorated rent. If a tenant had moved into the property half way through a monthly lease period, this calculator is useful to figure out how much the tenant needs to pay. } } var rp = Math.round((p-ep)*100)/100; } } function days() { Don't worry - … No credit card required. calculate(); document.wheel.term.value = "Na"; var x = parseFloat(xx); Quickly calculate the prorate rent using this calculator. factors. if ( parseFloat(p)>0 && x>0 ) { } if ( leap(y1)==1 && m1>=2 ) day1 = ++day1; parseInt(yr/400)==yr/400)) return 1; Try it free. var f = Math.floor(f)/100.0; The default will display short rate factor for a one year policy which is 90% of var t = (cvtint(u2)+cvtint(u1)); // term in days if ( wdate=="exp") var year = document.wheel.xyear.value; That is where this landlord calculator comes in handy. document.wheel.unearned.value = ""; if ( dd==29 && mm==2 && l==1) return 0; By entering your email, you agree to ourTerms & Conditions. } document.wheel.eyear.value = year; if ( dd>chkmonth(mm) || dd<1 ) return 1; } Different months will have different daily rates. If you have any feedback or questions please leave a comment below. var u1 = document.wheel.used.value; document.wheel.xday.value = document.wheel.eday.value; If a tenant doesn’t move in on the first day of the month how do you work out how much rent is duefor that first payment period. No credit card required. The Calculations below will show UNEARNED (return premium) if ( day3>365 ) document.wheel.unused.value = day3-day2; Months with 31 Days – January, March, May, July, August, October and December, Months with 30 days – April, June, September, November. } if ( y >= 1) { var f = 90.0-u1/3.65; var year = ++year; else { You will need to calculate prorated rent to accurately reflect the amount of time your tenant has actually stayed in your property. 243, 273, 304, 334); } There are multiple reasons a landlord may be required to calculate prorated rent for their property and for their tenants.. You could possibly have a tenant moving into your property a few days early and may want to charge for the early access. var u3 = document.wheel.earned.value; if (yr != "") { document.wheel.eprem.value = ep; You have to work out how much rent they owe for the 16/17 days remaining in that billing cycle. The Prorated rent for them in this example then would be \$640.08. var d1 = document.wheel.eday.value; Are they paying more than 1 month at a time. var month = document.wheel.xmonth.value; How do you prorate rent? if ( cvtint(y1)>0 ) var day1 = (y1*365)+months[--m1]+cvtint(d1); if ( t>365 ) var f = 1-((1-f)/2.7); A shorter month means a larger daily rate. Prorated Rent Calculation. document.wheel.eyear.value = --year; var m = parseInt(month)+m; var year = --year; else { (We suggest the SECOND month of … You will need to calculate prorated rent to accurately reflect the amount of time your tenant has actually stayed in your property. var d2 = document.wheel.cday.value; The most basic method is to calculate rental costs per day. if ( m<0 || m>2) m = 0; // set default to short term if ( m >= 1 && wdate=="eff" ) { var y2 = document.wheel.cyear.value; How do I calculate the prorated cash compensation costs for all employees who received cash compensation that was greater than an annualized rate of \$100,000 in 2019? return 0; pro rata factor. if ( m >= 1 && wdate=="exp" ) { else { var d3 = document.wheel.xday.value; else var f = u2/(parseInt(u2)+parseInt(u1)); if ( parseInt(y) >= 1) var m = parseInt(t)-parseInt(y)*12; } var wdate = "eff"; var m1 = document.wheel.emonth.value; if ( wdate=="eff" ) { document.wheel.unearned.value = Math.round(f*1000)/1000; All rights reserved. var u2 = document.wheel.unused.value; if ( u1<23 ) var f = f+5.55-u1/4.0; var yy = chk-mm*1000000-dd*10000; }. Pro Rata / Short Rate Calculator. document.wheel.unearned.value = 0; Maybe I’d cover utilities, but they will get charged for the 15+ days of rent and I can use the above prorated rent calculator to get the number I need. if ( cvtint(y3)>0 ) var day3 = (y3*365)+months[--m3]+cvtint(d3); Whether you are moving in or out, all you need is your rent amount, the month of move-in or move-out, and your rent amount is ready to go. chkdtes(wdate); document.wheel.eday.value = document.wheel.xday.value; We have included these equations below to help give you an idea as to how calculating prorated rent actually works. To use this prorated rent calculator you simply plug in the rent you’re charging per month. if ( cvtint(y2)>0 ) var day2 = (y2*365)+months[--m2]+cvtint(d2); Please keep in mind that Commonwealth Insurance Partners, document.wheel.xmonth.value = document.wheel.emonth.value; A time of Midnight is assumed if no time is specified, so 6/1/2020 to 6/1/2020 to 6/7/2020 would only be 6 days. function leap(yr) { var p = document.wheel.prem.value; if ( day1>365 ) document.wheel.used.value = day2-day1; if (yr != "") { else if ( t>=365 && u1<365 ) { “Track income and expenses, screen tenants, set automatic reminders, and more with Landlord Studio.”. function cvtint(xx) { var chkmonth = new Array(31, 28, 31, 30, 31, 30, 31, 31, 30, 31, 30, 31); var e = document.wheel.earned.value; if ( m==0 && ( tm==6 || tm==12 || tm==36 )) { if ( u1>365 ) var f = (1.7/2.7*(1.0-Math.ceil((u1-365.0)/5.0)/146.0)); function factor() { } Or you may have a tenant staying a few days after the lease ends and need to find out how much you should be charging. else { var m2 = document.wheel.cmonth.value; function chkdtes(wdate) { But I’ve made it even easier by creating a Prorated Rent Calculator to help you out. } else if ( u1>=365 ) var f = 0; var m3 = document.wheel.xmonth.value; else { Policy Date: Cancellation Date: Term: Premium (optional): Calculate Reset Close. } document.wheel.eyear.value = parseInt(year)-y; Sometimes I use a couple free days as an incentive to help them out, or sometimes just to help me out. If you’re interested in simply determining a daily rate for prorated rent all you need to do is change the number of days to prorate to 1. var month = document.wheel.emonth.value; It will permit you to quickly determine how much rent is due. For each individual employee, the total amount of cash compensation eligible for forgiveness may not exceed an annual salary of \$100,000, as prorated for the Covered Period. You will need to calculate prorated rent to accurately reflect the amount of time your tenant has actually stayed in your property. var rp = ""; } function xdte() { var y3 = document.wheel.xyear.value; document.wheel.xyear.value = year; var m = parseInt(m)-12; } Prorating rent is a breeze with TurboTenant’s prorated rent calculator. However, if you want to know how the calculations are done, you should take a look at the following steps. if ( t>12 ) var y = parseInt(t/12); document.wheel.eprem.value = ""; } } var x = document.wheel.earned.value; function calculate() { Having said that, if they plan on moving in mid month it’s an entirely different scenario. If a tenant had moved into the property half way through a monthly lease period, this calculator is useful to figure out how much the tenant needs to pay. if ( cvtint(t)<0 || isNaN(t)) { var m = parseInt(m)-12; var yr = document.wheel.xyear.value; document.wheel.rprem.value = ""; document.wheel.xyear.value = ++year; m2 = cvtint(m2); } I’ve set up several default values you can change on your own, but as you can see based on a \$900 monthly rent for a month with 30 days if a tenant moves in ten days early (or they are staying an additional ten days into the month) they would owe \$300. Join thousands of landlords in our community. if ( m==0 && ( tm!=6 && tm!=12 && tm!=36 )) { var p = Math.round(p*100)/100; var ep = ""; } To compute the prorated rent amount, it is easier to use our prorated rent calculator. var year = document.wheel.xyear.value; if ( p>0 || parseFloat(e)!=0 ) factor(); } But I’ve made it even easier by creating a Prorated Rent Calculator to help you out. else if (month != "" && wdate=="exp" ) document.wheel.emonth.value = parseInt(m); To use this prorated rent calculator you simply plug in the rent you’re charging per month. if ( m==2 ) { document.wheel.earned.value = ""; } var wdate = "exp"; var ep = (Math.round((p*x)*100))/100; The number of days in the month you’re charging for (28, 29, 30 or 31) and then the number of days you need to prorate. var dd = parseInt((chk-mm*1000000)/10000); var year = document.wheel.eyear.value; if ( wdate=="eff" ) { The Calculations below will show UNEARNED (return premium) factors. Prorated rent is simply the way to work out how much rent is due when a tenant hasn’t been in the lodgings for the full billing cycle. if ( leap(y1)==1 && m3>=2 ) day3 = ++day3; 2020 | Landlord Studio. LLC has provided calculator as a service to its clients, with no warranties or promise of proper function. A practical example of prorated rent calculations is provided in the next section. Work the exact count of days for the billing cycle. } var m = parseInt(month)+m; Copyright© 2020 | Landlord Studio. For example, they move into your property on the 14th of the month but the billing cycle begins on the 1st of the month.