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Prorated Rent Setup Overview

Prorating is a way you can charge for a partial month so the regular billing lands on the first of the month for all future bills. This article has three sections:

Set Up Prorating Options for Online Rentals
Set Up Default Proration for Manager Rentals
What Each Prorating Option Means

Set Up Prorating Options for Online Rentals

1. Hover over the setup tab and select Settings.

2. The prorating setting is at the bottom of the page. Be sure to click the Update Settings button when you have finished selecting your preferred prorating option.

Set Up Default Proration for Manager Rentals

1. Hover over the setup tab and select Settings.

2. The prorating setting is just below the Customer Rental Prorating section of the page. 

What Each Prorating Option Means

There are five prorating options which are explained further below (see A-E). Note: The most common prorating option is  Prorate this month and bill full billing cycle starting next month.

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A. Custom Prorating: You would only use this option if you have, say, insurance that needs to be prorated as well. You can customize the prorated price and also insert a prorated insurance premium.

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B. Bill for the first full month, Prorate second month billed now: Let's say you have a customer who moves in on the 15th of October. You want to charge him for a month's rent—October 15 to November 15—and also charge him for the rest of November (the prorated amount), all due right now. If rent for a month is $60, the customer would pay you $90 right now if you selected this prorating option, and he wouldn't be due again until the first of December.

C. Bill for the first full month, Prorate second month billed later: You would select his option if you have a customer who moves in on, say, October 15, and you want to charge him for October 15 to November 15 right now. However, when he is due again on November 15, you want to only charge him for the rest of November (a partial rent) so his billing cycle will change to the first of the month starting in December. If rent is $60 a month, he will pay you $60 now, and come November 15, he will pay you about $30. On December 1, he will pay the regular $60 and would continue doing so on the first of the month for the foreseeable future.

D. (Most Popular) Prorate this month and bill full billing cycle starting next month: Select this option if you have a customer move in on, say, October 15, and you want to charge him the remainder of the month's rent (a partial amount) with the intent for his regular billing to begin on November 1. If rent is $60/month, he will only pay you $30 right now, and come November 1, he will pay you $60 for that month and so on for the future.

E. Prorate this month and bill now for the first billing cycle: Let's say you have a customer who moves in on October 15, and you want to charge him for the remainder of October and also all of November right now. His regular billing will resume on the first of December. If rent were, say, $60 for a month, he would pay you both the $30 for the rest of October and also the $60 for all of November, totaling $90, right now. His next bill date would not be until December 1 when he is billed $60 for that month, and so on for the foreseeable future.

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