Proration allows you to charge for a partial month so the regular billing lands on the first of the month for all future bills. To adjust your prorations settings, click Settings from the Setup menu.
The prorating setting is at the bottom of the page. You can select a proration option for Customer Rentals and for Manager Rentals. Be sure to click Update Settings when you have finished selecting your preferred prorating option.
Proration options
Bill for the first full month, Prorate second month billed now
The customer will be required to pay for the first full month plus a second prorated month at move-in.
Example: If a customer moves in on October 15th, they would pay for October 15th - November 15th and also the rest of November (the prorated amount), up front. If rent for a month is $60, the customer would pay you $90 right now if you selected this prorating option, and they wouldn't be due again until the first of December.
Bill for the first full month, Prorate second month billed later
The customer will be required to pay for a the first full month's rent at move-in and will be billed later for their prorated second month.
Example: If a customer moves in on October 15th, they would pay for October 15th - November 15th at move-in. When their next bill is due on November 15th, they will only owe for the remainder of November (the prorated amount). Their billing cycle will change to the first of the month starting in December. If rent is $60 a month, they will pay you $60 at move-in. On November 15th, they will pay you about $30. On December 1st, they will pay $60 and would continue doing so on the first of the month going forward.
Prorate this month and bill full billing cycle starting next month (Most common)
The customer will pay the prorated rent for the first month at move-in and then be billed for their second full month.
Example: If a customer moves in on October 15th, they would pay for October 15th - November 1st at move-in and regular billing would begin on November 1st. If rent is $60/month, they will pay you $30 at move-in. On November 1st, they will pay $60 and would continue doing so on the first of the month going forward.
Prorate this month and bill now for the first billing cycle
The customer will be required to pay for the first prorated month and the next full month at move-in. Regular billing will start the following month.
Example: If a customer moves in on October 15th, they would pay for the remainder of October and the full amount for November up front. Regular billing would start on December 1st. If rent is $60 for a month, they would pay $30 for the rest of October and also $60 for all of November, totaling $90 at move-in. Their next bill date would not be until December 1st, when they are billed $60 for that month.
Custom Proration (at move-in)
You can select Custom Prorating when moving a customer into a unit if you would like to customize the prorated rent amount. You can also customize a Prorated Insurance Premium.
