So I've been renting properties for several years now and every time the first of the month approaches I always have to check to see if it's a 30 or a 31 day month to know exactly when I should I be expecting my payment. But then it occurred to me: since months are different lengths, why do we charge by the month? Doesn't this mean that on longer months, tenants get to spend less per day to live on our properties? Or looked at another way, don't they, on the last day of longer months, get a free day of rent assuming that the monthly rent payment should apply to a 30-day period?

Now I know this might sound like I am trying to nickel-and-dime my tenants, but when you take into account that those days really add up it seems more like the tenants that are getting a free ride. Let's say rent is $1000 a month. 1/30th of a $1000 rent payment is $33, and there are 7 months in a year that have 31 days. Even subtracting for February, that's five extra days a year, or $165 per year that landlords are losing in opportunity cost by charging by the month instead of by the day or by the 7 day week. After six years, that's one entire month's worth of free rent - or a whole security deposit- accrued right under your nose!

I was wondering if anyone had any suggestions on how to maybe try to implement a more equitable and consistent way of charging rent money per time of occupancy. I think the monthly rent system is unfair and obsolete, because 7 months out of the year- more than half- tenants get to pay LESS than what they pay the other five months, per time spent living at the rental property. If somehow we can move to a weekly system being more common, or maybe we can have "high rent months" and "regular rent months" or something like that. The February discount would be a nice treat for families struggling in the winter, and maybe it would even help us remember which months have how many days!

Should tenants pay more for longer months?

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