Is prepaid rent the same as deferred rent?

No, prepaid rent and deferred rent are not the same. Prepaid rent refers to rent that is paid in advance for a future period, meaning the tenant has already paid for the use of the property before the rental period begins. In contrast, deferred rent occurs when a tenant has an obligation to pay rent but delays the payment to a future date, often due to agreements that allow for reduced payments in the initial period of a lease.