How HomeSuite Calculates Pro-Rated Rent

Tyler Malvase -

HomeSuite calculates pro-rated rent using a standard 30 day month. What this means is that if your stay cannot simply be divided into a number of months (1,2,3...12), we use a 30 day month to calculate rent for a partial month. For example, you may book a lease that is for one month and 15 days. Most landlords will require that you pay for one month before you move in and pay for the 15 days later. The way we would calculate the cost of those 15 days would be as follows:

Monthly Rent divided by 30 times 15=Pro-rated rent. 

If you would like to calculate a pro-rated rent amount for your lease, you can use the following simple formula.

Monthly Rent/30 x Calendar Days=Pro-rated Rent Amount

Pro-rated rent can also apply to your first month's rent. For example, some landlords will only require a partial rent payment for the month that you move in. Say you have a lease that starts on August 13th and ends on September 18th. Your landlord may only require you to pay the August 13th through August 31st rent before you move in. In this situation, you would only pay the pro-rated rent for August 13th-August 31st before you moved in. To find out how much this would cost, HomeSuite would simply divide the monthly rent on your lease by 30 and multiply it by 19 (the amount of calendar days from August 13th-August 31st). You would then have to pay the rent for September 1st-18th on the rent due date (August 21st).

 

If you fee like your invoice has an incorrect rent amount, please contact the HomeSuite Customer Care Team.

 

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