Proration Calculations

RPMP general proration

Paint – 3 Years

Carpet – 7 Years

Hard Wood Floors – 25 years

Proration is determined by the age of Paint, Carpet or Flooring and the lifespan that is left of the product.  This would be charged when there is excessive wear and tear.  An owner cannot use the security deposit to rehab the whole home, we will charge where appropriate based on damages/marks/dings/stains.   

Example: $1200.00 to replace carpet in living room and common room that had excessive stains and/damage that requires replacement. 

Lease started in 2020 and carpet was brand new at move in

Lease ended in 2023 and carpeting in certain areas cannot be repaired. 

Cost $1200.00 / 7 = 171.43 (round up/down when needed)

Tenant is charged for years left, in this example, 4 years of life are left. 

$171.43 x 4 = $685.72 charged on the security deposit.

Determining Costs:

1. We can estimate charges with our vendor – if the property is re-renting we will be handling the work and will have firsthand costs of repairs.  We can also prorate based on estimated costs, but a true estimate is preferred.

2. Costs can come from an owner.  In some cases, management has ended, the owner may move back in, sell or handle work themselves.  In that case, we would follow the same formula but using the costs provided by the owner.