How does apartment rent work for the month of February since its only 28 days long? Is it prorated?
My rent is due every month on the 1st. Considering February is only 28 days and every other month is either 30 or 31 days, is the rent slightly lower?
Public Comments
- No. A month is a month. You rent is the same every month, all 12 months of the year.
- Although February is shorter than other months, you still have to pay the full rental amount for that month. However you can always negotiate for a few days of rent-free period from your landlord if you are moving in to your new place in the month of Feb.
- Ask yourself the question in reverse. Since all the other months are longer, is the rent higher for those months with 30 and 31 days ? Of course it isn't and it isn't lower for February either.
- NO! Rent is NOT for 30 days or 31 days. It is per month. PERIOD! You get no concession for Feb. Nice try dude!!
- Depends on how you rented the unit. If you rented it buy the day you would only pay for the 28 days. My suspicion is that you rented it by the calendar month. So February would be one calendar month and you would owe for one month of rent. In accounting/financial circles there are many possible interpretations on how long a month is. Some take as a natural calendar months with 12 months per year. In ancient times there used to be only 10 months. Some take a month to be 30 days. Some take a month to be 1/12 of a year, not counting leap years that is 30.4166 days in a month, leap years would yield 30.5 days per month. To make matters more there are ways of looking at one year. Is it 365 days, 365.25, 365.26 days long. Remember we even have leap seconds to correct our clocks to match the earth's rotation. I understand your point. Further I believe that your lease may state the annual (or total) amount of all rents due under the term, and state that it is to be paid in 12 (monthly) installments of equal amounts. These equal amounts would be the monthly amount due BEFORE the late date. Had you been evaluating loan or bond yields, you would be off to a good start. About 20 years ago I was able to increase the yield on a 5 year CD by 0.625% by doing a similar analysis. You may find it interesting that some landlords have discovered that some tenants prefer to pay rent every 2 weeks (the same schedule as pay checks). The amount of these bi-weekly payments is one half of a months rent. So the landlord averages 26.0714 payments per year. The extra 2.0714 payments per year, or 8.6% more rent. Keep asking "dumb questions". as you may discover "free" money. At the same time appreciate that landlords may not share your mindset and not be tolerant.
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