Proration
Charging for part of a billing period rather than all of it.
Proration splits a periodic charge in proportion to the part of the period actually used. A resident who takes a space on the twentieth of a thirty-day month pays a third of that month, not all of it and not nothing.
It matters most in parking at the edges: a second vehicle added mid-month, a space given up before the billing date, a resident moving in on the day the invoice runs. Getting it wrong in the property’s favor produces a complaint; getting it wrong the other way produces a shortfall nobody notices for a year.
See also
- Delinquency — Money billed and not collected, and how overdue it is.
- Ancillary revenue — Income from services beside the rent — parking, storage, pets.
Parking, handled.
Permits, guest passes, enforcement, contracts and monthly billing for the building you actually manage.