01
The Proration Formula, With Worked Examples
When you move in or out mid-month, you shouldn't have to pay the full month's rent β only for the days you actually occupy the unit. There are two common methods: the actual-days-in-month method divides rent by that month's real day count (28-31) then multiplies by occupied days, while the flat 30-day method always divides by 30. For example, on $900/month rent, moving in on the 16th of a 30-day month and staying through month-end gives 30β16+1=15 occupied days. Flat-30: 900/30Γ15 = $450. Since that month actually has 30 days too, the actual-days method also gives $450.
Now try a 31-day month (say, January) with the same day-16 move-in (16 occupied days): actual-days gives 900/31Γ16 β $464.52, while flat-30 gives 900/30Γ16 = $480 β a real difference. Because the two methods diverge whenever the month isn't exactly 30 days, it's worth confirming which method your lease uses before signing.
Now try a 31-day month (say, January) with the same day-16 move-in (16 occupied days): actual-days gives 900/31Γ16 β $464.52, while flat-30 gives 900/30Γ16 = $480 β a real difference. Because the two methods diverge whenever the month isn't exactly 30 days, it's worth confirming which method your lease uses before signing.