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Anonymous

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Posts: 36
Reply with quote  #1 
This might be a silly question but I need clarification.

I know how to prorate rent but what I'm not sure about is, is the monthly rent divided by the number of days in that month whether it's 28 days or 31 days or is it always divided by 30 regardless of the number of days in that month? And this is for an Annual lease in California if that makes a difference.
AccidentalRental

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Posts: 122
Reply with quote  #2 
I don't know if there is a law or best practice specific to your jurisdiction but I use the actual days in that month.  I find tenants understand that better than trying to use "banker's months" especially if it isn't in their favor.  Just be consistent and you shouldn't have any issues.
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Maxmillian

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Posts: 40
Reply with quote  #3 
THE FAIREST WAY IS TO MULTIPLY THE RENT BY 12 THEN DIVIDE BY 365 (OR 366 FOR A LEAP YEAR )TO GET THE DAILY RENT AMOUNT  
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Anonymous

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Posts: 36
Reply with quote  #4 
Fair for who? Dividing it by 30 days actually works out better for the tenant the way you're suggesting works out better for the landlord but either way it's only a few dollars difference
LLinVA

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Posts: 411
Reply with quote  #5 
As stated, just divide the rent by the number of days in that month.
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