Income/expenses on a new rental

[Justin Heitter]

I think I have a good idea what the answer is but here a simple question.

John buys a rental property from Sarah. They close on the 6th of September. Sarah has received rent from her tenant of $1000. John’s first mortgage payment is due on October 1st. What happens to that rent Sarah already collected.

I am certain that rent is prorated from the date of the close. Ie Sarah receives 5 days worth of rent and John gets credited back 25 days of rent for the month. And I assume this would be true of any other property type...rv park....grocery store....short term rental.

Exactly how does it work