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Michael Withrow answers: What is pre-paid rent?

There are a couple of different types of prepaid rent. Typically when we have a new tenant we’ll ask for first and last month’s rent. That last month’s rent is a prepaid rent, in essence. In addition, on a month-to-month basis, if somebody pays their rent prior to the first of a month, technically on a balance sheet that’s considered prepaid rent.

 

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