Prorated Rent Calculator: Daily Rate & Partial Month Guide
Moving in on the 12th or moving out on the 18th? Learn the exact daily rate formulas used by property managers to calculate partial month rent down to the penny.
The 3 Ways to Calculate Prorated Rent
US landlords and property managers use one of three mathematical formulas to determine a daily per-diem rate:
1. Actual Calendar Days (Most Common)
Daily Rate = Monthly Rent / Days in Current Month (28, 29, 30, or 31)
The legally preferred method for residential leases. Accurate for every month length and leap years.
2. 30-Day Banker’s Method
Daily Rate = Monthly Rent / 30
Assumes every month has exactly 30 days. Popular in corporate housing contracts.
3. Annualized 365-Day Standard
Daily Rate = (Monthly Rent × 12) / 365
Averages the daily rate across an entire 1-year lease term.
Worked Example 1: Moving In on August 17 ($2,400 Monthly Rent)
Suppose your apartment lease is $2,400/month and your move-in date is August 17:
| Step | Calculation Breakdown | Result |
|---|---|---|
| 1. Days in Month | August has 31 days | 31 Days |
| 2. Occupied Days | August 17 to August 31 (inclusive: 31 - 17 + 1) | 15 Occupied Days |
| 3. Exact Daily Rate | $2,400.00 ÷ 31 days | $77.4194 / day |
| 4. Prorated Total Due | $77.4194 × 15 days | $1,161.29 Due at Move-In |
Worked Example 2: Moving Out on March 11 ($2,800 Monthly Rent)
If your lease ends or you vacate following 30-day notice on March 11 on a $2,800 lease:
| Factor | Formula & Numbers | Amount |
|---|---|---|
| March Days | 31 calendar days in March | 31 Days |
| Occupied Days | March 1st through March 11th inclusive | 11 Days |
| Daily Rate | $2,800.00 ÷ 31 | $90.3225 / day |
| Final Month Rent Due | $90.3225 × 11 days | $993.55 Total |
Prorate Your Roommates' Rent Instantly
Use Fair Rent's Advanced Options to calculate partial month rent for any move-in date across 28, 29, 30, and 31-day months with zero penny rounding errors. Be fair.
Frequently Asked Questions About Prorated Rent
To calculate prorated rent using the standard Actual Calendar Days method: Divide the total monthly rent by the exact number of days in that specific calendar month (28, 29, 30, or 31) to find the daily rate. Then multiply the daily rate by the number of occupied days (from move-in date through the last day of the month, inclusive).