How do I automatically calculate prorated rent?

When a tenant moves in or out mid-month, you might only charge partial rent for that time period. 

Buildium can prorate a tenant’s first and last month’s rent automatically based on your rent amount and lease dates, then apply those charges to their lease ledger automatically.

You’ll be able to take advantage of this feature when you enter a new draft lease or executed lease.

To have Buildium prorate the rent for a tenant on a new lease:

    1. Navigate to Rentals > Rent Roll.

    2. Then, click Add lease and fill out the form.

    3. Include lease start and end dates, as well as the date you want the first recurring rent charge to post.

For example, if you want to charge recurring rent May 1, but you set the lease start date as mid April, a section called Proration will appear:

 

As you can see, Buildium will calculate the amount to prorate for the remainder of April, and note exactly how many days the calculation is based on.

Prorating automatically through Buildium is only available when the rent recurs monthly.

The prorated amounts will automatically adjust if you edit the recurring rent amount.. If you overwrite the amount Buildium has calculated for you, a Reset link will appear. Clicking Reset will revert back to Buildium’s original prorated rent calculation.

 

 

When you finish filling out the form and create the lease, Buildium will automatically apply the prorated first month rent charge to the lease ledger.

 

 

In addition, if the lease ends on March 15th and rent charge is set to post on the first of the month, Buildium will prorate the last month's rent charge amount for March.

 

 

As with prorated first month’s rent, prorating last month’s rent automatically through Buildium is only available when the rent recurs monthly.

When you fill out the remainder of the form and create the lease, Buildium will know to apply March’s rent charge to the lease ledger at the end of the lease instead of charging a full month’s rent. If you need to edit the amount or decide you no longer want to prorate last month’s rent, just click Edit Lease.

 



Article #: 219044207

 

Still have questions?

Create a support ticket anytime, and we'll get back to you as soon as possible.

Submit a support ticket