Do you know what your monthly rent is?
27th October 2016
Many agencies and marketing platforms (eg Zoopla and Rightmove) advertise their rents as per week (pw); these rents however are usually requested to be paid by per month(pcm). This seems to be the custom in the UK these days.
When calculating this figure there is some confusion; we often get asked the question 'how did you work out the monthly rent?'
So most people would try calculating the monthly rent by multiplying the weekly figure by 4 (eg. £100pppw is equal to £400pcm) – this however is WRONG!
There is never an even 4 weeks in every month – for example February has 28 days and March will have 31 days so this sum doesn’t add up.
Don’t worry we’ve got the right answer!
So there is always 52 weeks in a year; we would implement this into our formula to get the precise monthly figure.
Here is the formula to work it out the correct pcm figure:
weekly rent x 52 weeks = rent per annum (pa, or per year)
annual rent / 12 months = monthly rent
To make it easy for you. Here’s a quick converter.
£70.00pw = £303.33
£75.00pw = £325.00
£80.00pw = £346.67
£85.00pw = £368.33
£90.00pw = £390.00
Think you’ve got it all figured out now? Take a look at our properties... the rents are all quoted per week...
If you are still struggling with your figures, we are happy to help! Email us at email@example.com or give us a call on 0113 275 1010.