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 starts on August 1st, your pay periods are monthly, and you are eligible for an early move-in, you may be charged pro-rated rent for the extra days you are in the property before the lease start date.
Calculating pro-rated rent is simple. All you have to do is divide your monthly rent by 30, then multiply that number by the number of extra days you will be staying in your property. For example, if your rent is $3,000/month and you are moving into your property three days earlier, then your pro-rated rent would be: ($3000/30) x 3 = $300.
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 such as pro-rated rent.