Half-Month Tenancies & Mathematical Discrepancies
An occupancy period of 14 days is the most common mid-month transition period in American leasing. However, the exact percentage depends heavily on the calendar month:
- In a 30-day month (April, June, September, November), 15 days represents exactly 50.00% of the monthly contract rent.
- In a 31-day month (January, March, May, July, August, October, December), 15 days equals 48.39%. Tenants save slightly more when moving in mid-month during 31-day months.
- In February (28 days), 14 days represents exactly half (50%), while 15 days equals 53.57%.
Step-by-Step Calculation Example for 14 Days:
Assuming a monthly rent of $1,800.00 in a 30-day month:
- Divide monthly rent by total days:
$1,800 ÷ 30 = $60.00 per day - Multiply daily rate by occupied days:
$60.00 × 14 = $840.00
Total Prorated Rent: $840.00