During the move-in and move-out process, you may not want to charge a full month’s rent. This is called pro-rated rent, which means charging only a portion of the monthly rental amount based on the number of days the tenant will be living at the property.
Pro-Rating Methods
There are two common ways to calculate pro-rated rent:
1. Calculated Over a 30-Day Month
This is the most common method. Regardless of how many days are actually in the month, the pro-rated amount is always calculated over a 30-day period.
2. Calculated on the Number of Days in the Month
This method takes into account the actual number of days in the month in question and divides the total rent by that number, either 30 or 31.
How to Create a Pro-Rated Payment Request for a Move-In
- Create a one-time payment request for the pro-rated amount covering the partial month
- Then create a recurring payment request for the full rent amount going forward
How to Create a Pro-Rated Payment Request for a Move-Out
- Cancel the last month’s recurring rent request
- Then create a one-time payment request for the pro-rated amount covering the remaining days
Related Articles
- How do I request payments?
- How do I request a one-time payment on Hemlane?
- How do I cancel a payment request?
- How do I change my bank account for future payments?
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