Three ways to count a day
- Days in that month. The rent divided by the number of days in the month: 28 to 31. A day in February costs more than a day in March. The most common method, and the easiest to check.
- A 30-day month. The rent divided by 30, whatever the month. Simple, but a day in a 31-day month is slightly overcharged.
- A 365-day year. Twelve months of rent divided by 365, the same daily rate all year.
The day you move in and the day you move out both count. No method charges more than a full month.
An example
Say the rent is $1,500 and you move in on June 18. June has 30 days and you live there for 13 of them, from the 18th to the 30th. By the days in the month, the first payment is $650. Moving in on July 18 instead, a 31-day month, it would be 14 days at $48.39 a day: $677.42.
Which one applies?
The one in your lease. If the lease says nothing, agree the method with the owner before you sign, and put it in writing: on a large rent the difference between methods is worth a dinner out. Some owners prefer to start the lease on the 1st or the 15th instead; ask.
The first payment is only part of moving in: the move-in cost calculator adds the deposit and the fees.