You've just signed your lease and are ready to move in to your new Loftium home -- hooray!

As soon as the lease is signed, you'll pay:

  • The security deposit (AKA "damage deposit")
  • Any applicable pet deposits or any home-specific fees

Your first rent payment is due on the day your lease begins. It's important to note that the first 15 days of your lease are billed at your home's full rent (not discounted) to account for the Airbnb setup period. The rest of the first month (day 16 through the last day of the month) is prorated at your discounted rent rate. In all, your first rent payment will include:

  • First 15 days of the lease, prorated at Full Rent rate
  • The remainder of the month, prorated at Discounted Rent rate
  • Pet Rent, if applicable

Let's run this calculation using a specific example:

  • Lease starts on January 1, 2020
  • Full Rent = $2,800
  • Discounted rent = $1,497
  • No pets living in the home

Calculation:

  • $2,800 divided by 31 days in January ($90.32/day), then multiplied by 15 days = $1,354.84 (covers Jan. 1-15)
  • $1,497 divided by 31 days in January ($48.29/day), then multiplied 16 days (the remainder of the month) = $772.65 (covers Jan. 16-31)
  • Total January rent due = $2,127.49

Please note: these calculations will vary depending on the number of days in the month.

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