Real estate transactions are often prorated. If you sign a lease halfway through the month you owe only the portion of the rent for the time that you actually inhabit the apartment.
If your June rent is $600 a month, and you move in on the 15th day of the month, you only owe rent from the June 15 to June 30.
Do The Math
Divide $600 by the number of days in the month, which is 30. Your answer is 20, which means you pay $20 a day to live in your apartment. You owe a prorated amount of rent for the month of June that is equal to $20 times the number of days you will live there. That total is $300, or the prorated rent amount.
Auto loans, credit cards and taxes during real estate closings are also prorated. Amounts can be based on daily rates, monthly rates or even yearly rates.