Pro-rated rent is rent charged for an amount of time that is less than a normal pay period of your lease. For example, if your lease begins on a day other than the 1st of the month, you will only be charged pro-rated rent for the days that you reside at the property that month. Thereafter you would owe full rent payments.
Calculating pro-rated rent is simple. All you have to do is divide your monthly rent by the number of days in that month (e.g. 30), then multiply that number by the number of days you will be staying in your property. For example, if your rent is $3,000/month and you will be residing at the property for 10 days that month, then your pro-rated rent would be: ($3,000/30) x 10 = $1,000.
Baker Street Properties strictly adheres to this formula and will never charge you hidden fees. We strive to be as transparent as possible for any additional charges.