Yardi Store Developer eXchange

This is a general run down on how we prorate rent at sites that use either standard accrual or cash basis. First, we figure out the standard per diem. This is found by dividing the original amount due by the days in the period and rounding down to the nearest penny.

For example,

If you have a rental that has a rent rate of $100.00 and a rental period that is from January 1st to January 31st; the standard per diem would be $3.22 (100/31 = 3.22580…).

Next we find the difference between the original amount and the amount given if we assumed standard per diem for the period; this will give us the final day supplement. We then add that amount to the final day of the period.

So returning to the example above, the per diem for January 31st would be as follows:

The  original rent $100.00 minus the standard per diem of $3.22 times 31 days in the period equals $0.18. We then add this back into the standard per diem to get January 31st’s per diem of $3.40 ($3.22 + $0.18).

Here are some examples:

(SPD = standard per diem, FDS = final day supplement)

Rental period: January 1st – January 31st (31 days)

SPD = (100/31) = $3.22
FDS = 100 – (3.22 *31) = $0.18
January 1st – January 30th = $3.22
January 31st = $3.40

Rental period: February 1st – February 28th  (28 days)

SPD = (100/28) = $3.57
FDS = 100 – (3.57*28) = $0.04
February 1st – February 27th= $3.57
February 28th = $3.61

Rental period: April 1st – April 30th  (30 days)

SPD = (100/30) = $3.33
FDS = 100 – (3.33 *30) = $0.10
April 1st – April 29th = $3.33
April 30th = $3.43

Rental period: February 15th – March 14th  (28 days)

SPD = (100/28) = $3.57
FDS = 100 – (3.57*28) = $0.04
February 16th – March 14th= $3.57
March 15th = $3.61