First Month’s Rent and Prorated Rent
How is Prorated Rent Handled? If a lease starts after the 1st day of the month, the rental amount is prorated. Prorated rent is calculated by taking the total rent, pet rent, garage rent, etc. and dividing by the number of days in the month. The daily rent rate is then multiplied by the number of days the resident will be renting the property for the partial month.
In order to improve the first month’s cash flow, when expenses are the greatest, we require a full month’s rent upon move in and charge the prorated amount on the 1st day of the second month. Every Resident pays a full month’s rent before they are given keys.
Trusted by Hundreds of Local Residents
The Kattenberg Brothers have raised the bar for rental companies in this
community. They provide a higher level of professionalism and have made a
meaningful impact on our area.
I had the opportunity of working with Real Property Management over the course of a year as a tenant of one of their managed properties in Sioux Falls, SD. They were more than accommodating and extremely helpful whenever we had an issue. We were always treated as a first priority. Based on firsthand experience, I would highly recommend them to any property owners looking for a top-notch property management team!
I have worked with Josh and Derek for three years. They approach the rental management
business with enthusiasm, energy and a desire to provide excellent client service.