Prorated Rent Calculation

Introduction to Prorated Rent Calculation

The prorated rent calculation is used to determine the amount of rent owed for a partial month of occupancy. This formula is particularly useful in situations where a tenant moves in or out in the middle of the month and the rent needs to be adjusted accordingly. Prorated rent is calculated by dividing the total monthly rent by the number of days in the month to find the daily rent cost, which is then multiplied by the number of days the tenant will occupy the property during that month.

Parameter usage:

• totalRent = the full monthly rent amount
• daysInMonth = number of days in the month being calculated
• daysOccupied = number of days the property is occupied during the month

Example valid values:

• totalRent = 1000
• daysInMonth = 30
• daysOccupied = 15 (half the month)

Data validation

Validations ensure rent is positive, days in month are realistic (28-31), and days occupied do not exceed days in the month nor are less than 1 day.

Summary

This calculator provides a prorated rent amount based on total rent, number of days in a specific month, and the days occupied within that month. It effectively adjusts the rent for tenant move-ins or move-outs partway through the month.