How does first month rent work?

When first onboarding with The Brass Lantern, we collect your first month’s rent as your security deposit. Once/if rent period terminated by vendor, the vendor deposit shall be returned to vendor minus any outstanding mall fees, commissions, or damages to vendor’s booth area. The deposit is only kept in the event of booth abandonment or if past due rent cannot be paid. Rent is always paid in advance for the upcoming month. On the second of every month is when our system initiates our manual payouts either by direct deposit or by check. 

Should your start date begin in the middle of the month the amount you owe us will be prorated. 

For example if you’re rent began on the 23rd of the month and your rent is $250, your rent would be calculated as follows:

$250 rent divided by 30 days = $8.34 per day

You would then only be charged for the remaining days in that month, which would for this example only be 7 days.

$8.34 x 7 days = $58.34