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Updated over 7 years ago,
Help me understand this lease clause.
I am going through all of the landlord paperwork that comes with The Book on Rental Property Investing provided by biggerpockets and one of the clauses in the sample lease looks like this:
"
- a.AMOUNT: The rent for the Premises will be $__________ per month. For the period from Tenant’s move-in date, _________, through the end of the month, Tenant will pay a prorated amount of $_________ to Landlord. This prorated amount will be due on the first day of the second month of the Lease term, and a full month’s rent will be due before Tenant can take occupancy of the Premises. Tenant shall also pay $_________ towards the last month’s rent of the Lease term."
The way I am reading this it appears (assuming rent is $1,000/month) if the tenant moves in on the first day of their lease, say November 20th, they will be paying $333 for prorate on December 1st. But before the actual move-in the tenant must provide the full first months rent ($1,000) plus the last months rent ($1,000) plus a security deposit ($1,000) making for a total of $3,333 in the first two weeks.
Am I missing something here or was this just written in a less than ideal way?