Prorate Naaaaaaa
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Prorate Naaaaaaa (by Smokowna [MD]) Jan 16, 2021 8:24 PM
       Prorate Naaaaaaa (by Robert J [CA]) Jan 16, 2021 8:35 PM
       Prorate Naaaaaaa (by Smokowna [MD]) Jan 16, 2021 8:38 PM
       Prorate Naaaaaaa (by Cat [WI]) Jan 16, 2021 8:39 PM
       Prorate Naaaaaaa (by Jerry [MA]) Jan 16, 2021 8:42 PM
       Prorate Naaaaaaa (by Txlord [TX]) Jan 16, 2021 10:56 PM
       Prorate Naaaaaaa (by Shark [MI]) Jan 16, 2021 11:38 PM
       Prorate Naaaaaaa (by Hoosier [IN]) Jan 17, 2021 12:29 AM
       Prorate Naaaaaaa (by BRAD 20,000 [IN]) Jan 17, 2021 1:16 AM
       Prorate Naaaaaaa (by Bonanza [NC]) Jan 17, 2021 7:31 AM
       Prorate Naaaaaaa (by 6x6 [TN]) Jan 17, 2021 9:12 AM
       Prorate Naaaaaaa (by cjl [NY]) Jan 17, 2021 2:29 PM
       Prorate Naaaaaaa (by Nicole [PA]) Jan 17, 2021 2:44 PM
       Prorate Naaaaaaa (by Pmh [TX]) Jan 20, 2021 5:23 PM
       Prorate Naaaaaaa (by Laura [MD]) Jan 22, 2021 9:49 PM
       Prorate Naaaaaaa (by Laura [MD]) Jan 22, 2021 9:49 PM

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Prorate Naaaaaaa (by Smokowna [MD]) Posted on: Jan 16, 2021 8:24 PM
Message:

I've been accepting new teni at all times of the month. There were years when people would arrive on the first, however in the recent past I'm finding that teni show up at all times of the month.

For years I've been prorating the rent for the month. Today that stopped.

If you arrive on the 21st....your rent will be paid on the 21st of each month. In this way I get the full month of rent and not some pennies to move you in.

I believe I need people to have first month and security to complete the screening process.

I've made this change because I contemplate waves of bad teni looking for accommodations in the months to come.

.....Any other tips come to mind? I think I need to rethink this whole business and learn everything all over again.

Thanks,

--108.28.xx.xxx




Prorate Naaaaaaa (by Robert J [CA]) Posted on: Jan 16, 2021 8:35 PM
Message:

I accept tenants any day of the month. They need to pay a complete 1 months rent (30-31) day plus a full security deposit equal or more that 1 months rent.

Then when the 1st month (30 day period) is over and rent is due for the second month, the tenant pays a pro-rated amount to bring them to the end of that month. Then the 1st of the next month the new rent due date is on the first and this date modification is written into the original lease.

Most of the time this isn't a problem. So if the rent is $1,000 a month and the tenancy starts on the 14th of the month. The tenant pays from the 14th of this month through the 14th on next month. Then on the 15th, they pay half a months rent to adjust the date to the 1st of next month.

I never allow someone to move in without paying all of the move in costs... --47.155.xx.xxx




Prorate Naaaaaaa (by Smokowna [MD]) Posted on: Jan 16, 2021 8:38 PM
Message:

Fantastic idea. It offers the teni their wish but on my schedule.

Many Thankyous. --108.28.xx.xxx




Prorate Naaaaaaa (by Cat [WI]) Posted on: Jan 16, 2021 8:39 PM
Message:

If tenants move in a different day than the first, I require a full months rent and full security deposit and then on the same date of the next month, rent would be prorated on a per day rate (rent divided by number of days left in the month) to determine the partial payment of rent they would need to do to bring it back to the first.

Then it would always be rent due on the first. That way I have a full months rent and deposit to start off the tenancy and don't need to try to remember the rent due date being all different. --50.105.xxx.xx




Prorate Naaaaaaa (by Jerry [MA]) Posted on: Jan 16, 2021 8:42 PM
Message:

If they move in on the 30th, does that mean they get February for free? --71.233.xxx.xx




Prorate Naaaaaaa (by Txlord [TX]) Posted on: Jan 16, 2021 10:56 PM
Message:

I get full month rent+ prorated rent and SD before move in --72.180.xxx.xxx




Prorate Naaaaaaa (by Shark [MI]) Posted on: Jan 16, 2021 11:38 PM
Message:

I want all my rents due on the 1st. So for instance, if someone moves in on January 23, 2021 I prorate those nine days. I write the lease for one year plus nine days. On the first of February the next month is due. I also throw out the option of writing, say a fourteen month lease, this time of year. That way I don't have a winter move out in 2022. I'd say about 70% of new tenants take me up on that. --96.58.xxx.xxx




Prorate Naaaaaaa (by Hoosier [IN]) Posted on: Jan 17, 2021 12:29 AM
Message:

I do what Robert does...charge full month at signing, then 2nd month is pro-rated...but I don't see any issue with the way you're doing it. Just be clear about what you expect on the back end...our lease clearly states we won't prorate the final month's rent.

I like having all rents due on the same date...but that's just a personal preference. --99.92.xxx.xxx




Prorate Naaaaaaa (by BRAD 20,000 [IN]) Posted on: Jan 17, 2021 1:16 AM
Message:

Jerry,

No, the 31st.

Smok,

Your approach is common and do-able.

Me? In MY local economy? Few if any people have complete move in funds. People just don't have cash anymore.

I make it easy to move in and get the place filled. Works for us. I can hold out or I can work with legit, qualified applicants. No difference between these folks and folks who do have full move in funds.

My stats over many years and many homes show the amount they pay up front does not affect the normal payments coming in nor the length of their stay. I have people who pay $5000 Non-Refundable RTO fee up front but will skip in the night.

The rent starts the day we take it off the market by signing a lease and accepting at least a partial deposit.

We will give keys if the entire deposit is paid and a signed written plan to pay the prorated rent within 30 days. Usually it's for the next Friday payday.

We prorate the month to the day they sign.

70% of new leases are on PayDayPlan rent so we only need 1 or 2 weeks of rent to match up with the lease payment schedule.

PayDayPlan gives me 13 months of rent income over each 12 months AND helps them move into MY house while other LLs wait.

BRAD

--73.102.xxx.xxx




Prorate Naaaaaaa (by Bonanza [NC]) Posted on: Jan 17, 2021 7:31 AM
Message:

I pro-rate the first month and make sure they are signed up with clearnow and then it gets drafted for month 2 and on. No pro-rating for the last month when they leave. I only rent by the full month. --65.188.xxx.xxx




Prorate Naaaaaaa (by 6x6 [TN]) Posted on: Jan 17, 2021 9:12 AM
Message:

I do as Txlord. --73.120.xx.xxx




Prorate Naaaaaaa (by cjl [NY]) Posted on: Jan 17, 2021 2:29 PM
Message:

I do something similar as RobertJ only I don't have them pay in the middle of the month. they have two options:

First (in full), Security on whatever day they move in/sign the lease, etc. then on the 1st of the following month they would pay the pro-rated amount and going forward, rent is ALWAYS due on the 1st. In NYS we cannot have them leave/ evict until the end of the month (unless a judge states that) so why even bother?

First (in full), pro-rated and Security due on the day they move in/sign lease. then, the next payment isn't due until the third month (ex if they move in 17th, they pay January, Feb and sd. Next payment due 3/1).

This all depends on when they move-in though. Also, I'm not sure exactly how NY would do this if it came back - since we aren't "allowed" to collect more than one month rent at a time/ within the month (yeah, I don't understand that either). --67.242.xx.xx




Prorate Naaaaaaa (by Nicole [PA]) Posted on: Jan 17, 2021 2:44 PM
Message:

I don't prorate. They move in on the 1st - rent due the 1st. Move in the 10th - rent due the 10th. 13th - 13th.

The few times folks have asked me to move it to the first, they never agree to pay the proration so it stays on the original date.

Those with auto payments, no idea why it would matter. --72.70.xxx.xxx




Prorate Naaaaaaa (by Pmh [TX]) Posted on: Jan 20, 2021 5:23 PM
Message:

prorated for the move in month plus the next month up front. then due on 1st each following month. --107.77.xxx.xx




Prorate Naaaaaaa (by Laura [MD]) Posted on: Jan 22, 2021 9:49 PM
Message:

If they move in sometime other than the first and as a screening technique you want to only rent to folks who can come up with security deposit and first month's rent at one time, than this is a possible solution. Say they move in Jan. 15th. You require at move in, security deposit and feb. rent, the entire amount. On Feb. 1st, they can pay you the prorated rent from Jan. 15th through Jan. 31st. --108.56.xxx.xx




Prorate Naaaaaaa (by Laura [MD]) Posted on: Jan 22, 2021 9:49 PM
Message:

If they move in sometime other than the first and as a screening technique you want to only rent to folks who can come up with security deposit and first month's rent at one time, than this is a possible solution. Say they move in Jan. 15th. You require at move in, security deposit and feb. rent, the entire amount. On Feb. 1st, they can pay you the prorated rent from Jan. 15th through Jan. 31st. --108.56.xxx.xx



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