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. Pro-rated rent means to charge only a portion of the monthly rental based on the amount of time the tenant is living at a property.
Below are the two options for pro-rating rent during move in and move out:
- Calculated over a 30-day month
This is the most common way to pro-rate, regardless of how many days are in the month itself, the pro-rated amount will always be calculated over a 30 day period.
- Calculated on the number of days in the month
This method takes into account how many days are in the month at question and divides the rent total by the number of days in that month (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 of time
- Then create a recurring payment request for the full rent amount
How to create a pro-rated payment request for a move out:
- Cancel the last month's rent request
- Then create a one-time payment request for the pro-rated amount of time
For more information, please view our 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?
keywords: pro-rate, prorate, pro-rated, prorated, calculate rent, partial rent, prepaid rent