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YES! I remember when leases ended at MIDNIGHT * The day does not start at NOON

By
Property Manager with Gibson Management Group, Ltd.

Long ago, in a land far, far away.....rental leases ended at midnight.  I don't know why except that is made sense to someone that a new day started at 12:01A so it must be easier to calculate and pro-rate rents.

Then * maybe after daylight savings time * it became the norm to end leases at NOON/12:01P * in the DAYLIGHT  * so it was easier to arrange for landlords and tenants to do a proper check-out inspection without flashlights.



While this made sense, pro-rations became problematic since NOON did NOT start a new day.

It is my policy to collect a full month's rent and security deposit and then PRO-RATE the second month's rent according to the move-in date.  This often confuses owners who do not get the rent they think should have gotten for the second month because the ENTIRE RENT for the LEASE TERM is taken into consideration with the last month's rent being pro-rated to NOON on the LAST day of the lease being collected with an additional day.

All in favor of a new day starting at NOON/12:01P * Say AYE!

 

Posted by

Wallace S. Gibson is a Certified Property Manager with over 50 years of property management experience and expertise.  She maintains a specialized property management business in Central Virginia serving Albemarle, Greene, Fluvanna and Louisa counties  

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Comments(1)

Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

We do the same thing and it has not been an issue at all. I am glad our landlords are at least smart enough to figure that much out LOL.

Oct 18, 2012 12:36 PM