Calculate pro-rata rent for a partial first month and any late fee on overdue rent.
When a tenant moves in mid-month, rent is usually charged pro-rata for the remaining days. Enter the monthly rent and move-in date to get the pro-rata amount, and optionally add a daily late fee for overdue rent.
Pro-rata rent = (monthly rent / days in the month) x remaining days from the move-in date. It charges the tenant only for the days they occupy the property in that month.
A common approach is a fixed amount per day overdue. Multiply the daily late fee by the number of days past the due date to get the penalty.
Yes. Rentrm tracks each tenant's due date, carries forward unpaid balances and shows the exact amount due, so you never calculate manually.