If you move into an apartment later then the first of the month, your first month's rent will be prorated.
Get the total amount due for the month. lets use $1000 as an example.
You move in on the 15th of September, as there are 30 days in September you owe 16 days of rent.
The rent per day is 1000/30 = $33.33.
We then multiply the rent per day and the days left
16 x 33.33 = $533.28 is the prorated rent for the month
You may start a new job part way through the payment schedule, payment schedules are different depending on the company. Some companies pay bi-weekly, weekly or bi-monthly. Lets use bi-weekly for this example, you only work week days, therefore there are 10 days for every check.
You start working a week into the schedule.
Get the total amount due, we will use $1,000.
We then calculate how many days are left in the two weeks, as you started halfway through you've a week left.
Calculate the amount per day by dividing the total by the length of schedule $1,000/10 = $100 per day worked.
Then multiple it by the amount of days you worked $100 /5 = $500.
$500 is your prorated income
If you purchase a house part way through the year, you're expected to pay a prorated share of the property taxes that the seller has already paid.
To calculate the prorated amount, get the property tax for the year and divide it by 365. Lets use $1,000 as our total tax
After dividing 1,000/365 we have the daily cost = $2.73
If the seller owned the house for the first 100 days of the year we then subtract that from 365.
The amount of days you owe is 365-100 = 265.
we then get our total by multiplying the remaining days and the cost per day 265 * $2.73 = $723.45 is the prorated charge
Definition: If you use something for less time then the fixed rate allows. You may be charged only for the time you used it for, example if you move into an apartment halfway through the month you will be charged a prorated amount.
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