Author Topic: Tenant moving in on 15th. Lease will start the 1st  (Read 2270 times)

Aimza

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Tenant moving in on 15th. Lease will start the 1st
« on: July 10, 2017, 10:41:16 AM »
Hello all,

I have tenants that I want to move in on 7/15, but I want their monthly rent payments and lease to start 8/1. Has anyone gone through this? I'm not sure how to phrase the extra 2 weeks of rent. Do I include a line in the lease? Do I make a separate document?

I'm finding it difficult to find information about a situation like this on the Internet.

Any assistance is appreciated.

Thanks!

ixtap

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Re: Tenant moving in on 15th. Lease will start the 1st
« Reply #1 on: July 10, 2017, 10:47:10 AM »
Just prorate the extra two weeks for July and have rent due the first of every month. Surely you want a lease in place from the time they move in?

shawndoggy

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Re: Tenant moving in on 15th. Lease will start the 1st
« Reply #2 on: July 10, 2017, 10:51:01 AM »
Just say that rent is due on the 1st, except that if the lease commences on a day other than the first, rent for that partial month is due on the date of commencement and will be prorated on an X/30 basis (X being the number of days of occupancy).

GizmoTX

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Re: Tenant moving in on 15th. Lease will start the 1st
« Reply #3 on: July 10, 2017, 11:33:11 AM »
DS is moving into his 4th apartment next week & ALL have prorated the partial moving month & then required the remaining months to be due on the 1st. Collect the partial month plus any security deposit at move in.

BAMxi

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Re: Tenant moving in on 15th. Lease will start the 1st
« Reply #4 on: July 18, 2017, 04:19:45 PM »
I would get in writing and signed by them some sort of lease addendum stating their lease is starting 7/15, if the original lease they signed says 8/1. Then just prorate your rent for 2 weeks and charge it to them upon move in. Pretty simple!

Aimza

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Re: Tenant moving in on 15th. Lease will start the 1st
« Reply #5 on: July 20, 2017, 02:03:56 PM »
Thanks, all. I did an addendum which gave me 1 full month from 7/15-8/14 and then prorated rent of 1/2 month will be due 8/15. Further payments will be due on the 1st of every month.

I got their 1.5 month security deposit at signing as well.


Bobberth

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Re: Tenant moving in on 15th. Lease will start the 1st
« Reply #6 on: July 21, 2017, 03:56:11 PM »
If someone moves in during the middle of the month, the full month rent is due upon move in-nobody moves in without paying the full deposit and a full month's rent-and then the partial month's rent is due on the 1st. As a landlord you take all the risk in the signing of a lease so you need to compensated in case you never see another payment and have to incur court costs. Taking a partial month's end upon move in gives me the willies.


NoNonsenseLandlord

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Re: Tenant moving in on 15th. Lease will start the 1st
« Reply #7 on: July 23, 2017, 01:09:08 AM »
Here is what I do.  I start with great tenants.

When they move in, I get 1/2 months rent, plus the full deposit.  Less the holding fee.  On the first, I get a full-months rent.

Good tenants will pay when rent is due.