What is your general policy regarding prorated rent when a tenant moves in mid-month — for example, on the 17th?

Do you typically collect:

The prorated rent from the 17th through the end of the month plus deposits only, or

The prorated rent, deposits, and the following month’s full rent as well?

I don’t include the day the sign. I start from the next day. If it’s just a few days or a week I collect the next months rent and the prorated rent. I don’t do it exactly the same way every time but usually if it’s around 2 weeks I let them pay the next month.

I used to figure every day of it. Now, I'm glad to get the electric out of my name, and even like middle of the month move ins, it's easier to get the deposit with just half month rent.

I pro-rate the initial month but I do not pro-rate the final month of their residency.

Count the number of days they are in the house. Lets say they are moving in the 17th and the month has 31 days. 15 / 31 x $1500 = $725.81

I collect the partial rent, security deposit and all other fees.

next months rent is due in full in 15 days. I want everyone paying on the first. It would be too confusing for me to have people paying on different days.

I only allow lease renews in the spring (march, april, may june). If the lease starts in November I'll have it renew in June so it will either be a short lease or I'll have it go long and renew March of the next next year. Just depends on how I feel and what the tenant wants. I'll say how'd you like to lock down this rent for 17 months?

I do not want winter vacancies. If I have a winter vacancy there is an early lease termination fee of 1.5X the current total month's rent.

Lease renewals are via electronic signature. I usually send it 60 days before. I raise the rent between 0 and 5% depending on whether I like the tenant or if they are a pain in the tail. I have mentioned I have a doctor who always pays on the 5th and avoids the late fee that pops up on the 6th of the month. He will keep getting hefty rent raises until he pays on the first or he leaves. Either is OK with me.

You collect the prorated amount along with first month's rent and deposit. If rent was say $1,000 you would collect in your case $2,548.39

If they don't have all of that you agree to work with them providing they are fully qualified in all other ways. Let explain how exactly to do this and how you will go from zero to hero as a landlord.

You collect the prorated amount along with first month's rent and deposit. If rent was say $1,000 you would collect in your case $2,548.39

If they don't have all of that you agree to work with them providing they are fully qualified in all other ways. Let explain how exactly to do this and how you will go from zero to hero as a landlord.

It depends.

If both the tenant & I would like to have rent due mid-month, I'll get the first month of rent up front (+security, etc). Then the rent is due on the 15th of each month thereafter.

I always want at least 1 full month up front. so, In the past, when rent was to be due on the 1st with a "mid-month" move-in, I have collected the 1 & 1/2 months and other times I collected a month now & discounted the payment next month.

Times change. Someone above said they collect as much up front as possible. I used to insist on that too. Now that rents are so high to begin with, and I already collect a huge security deposit at lease signing (2x the rent) and I have decided I *do* want all rents due on the 1st (easier to track over time) I will definitely pro-rate first month's rent to get "butts in seats" ASAP.

Leases starts on date we all agree, and ends on last day of that month a year from now. Or 13 months from now, it depends.

Recently I actually CREDITED (didn't collect) pro-rated rent for a place - Tenant is moving in on the 25th - that has been tough to rent at the price we want. So when I finally found the right tenant, I started the lease on the 25th of May as requested, and it ends on May 31st 2027.

I start the lease the day they sign.

Maybe it is easier for me to track since I only have 20 doors?

The only time I pro-rate is if they want the rent on a specific day. Then I get the math figured out and that is the due date.

I consider it a nicety for the tenant that I work on making the rent due date as easy for them as possible. They don't get free days, unless something bizarre happens. I have let them stay without the utilities being switched over as well, if it is a weekend or holiday. They get until the next business day typically. I have already vetted them so if I am going to trust them with my property I can trust them to get the utilities on by the time we agree on.

Should have added that I do not give rent discounts if they move before the due date.

If they have given notice and the new place isn't ready on the schedule we planned on I switch them to bi-weekly, or even weekly, to help them out.

Pro rate the first partial month, add that to the next months full amount of rent and collect that total. Never give up possession for less than a full months rent. This way, you know they have money.

Paul, I agree completely.

Most of my units pre-lease before vacancy. I ask for half the deposit up front to reserve the apartment. 2nd half of the deposit is due upon move in along with pro-rated rent. I market it as a payment plan for the deposit to make moving more affordable.

Pet Registration fees also have a payment plan starting the 2nd month after they move in. I allow them to break up these fees into 3 payments over 3 months after they've had a few paychecks to recover. The Pet Registration fee can be as much as $600 which is a chunk for most people in addition to rent and deposits. I market this as a "Interest-Free Payment Plan for Pets," to make sure furry-friendly families stay together and still pay for kibbles.

Do not prorate last month.

Also market that if you move out before your lease ends at the end of the month, they can get $$ back if someone else moves in before their lease expires. Most folks move out before their lease expires. Meanwhile, utilities remain in the tenants name while the lease is in effect. This means I'm not paying for utilities while I'm getting the apartment ready.

Not a fan of reducing deposit amounts. I want as much incentive as possible for them to maintain and minimize damages. Lower deposits make people feel like they got less to lose. I have been able to collect on damages exceeding the deposit, but it's a lot of work. I'll waive damages exceeding the deposit up to $400. Beyond that, I'll give them 3 payment plans to make up for damages.

IN NY state we can only collect 1 months rent and the Damage and Cleaning Dep....Damage and Cleaning = 1 month. Terrible law from 2018 that is a disadvantage to landlords.

We are flexible on prorated rent. Depends on the resident and how our interactions progress. Normally we give a few days at no charge if they move in early.

Getting them to turn on the utilities saves us some money.