One of the questions we are most often asked when going about our business letting studio and 1 bed flats in Central London is " how is monthly rent calculated?", so in this post we will explain...
Rent in London is usually quoted as a price per week (pw) e.g. £200pw, and tenants are often surprised when they are informed that this does not equate to £800 per month. This is because there are not always 4 weeks in every month. Some months are 31 days long, others 30, 29 and even 28.
So to simplify things landlords charge rent per calendar month (pcm) which means that you pay the same amount every month regardless of the length of the month. This is calculated as follows:
So the monthly rent for the above example of £200pw is:
We hope that this clears up some of your questions. Please feel free to comment or email us at mail@redresidential.com if you have any other queries.
Rent in London is usually quoted as a price per week (pw) e.g. £200pw, and tenants are often surprised when they are informed that this does not equate to £800 per month. This is because there are not always 4 weeks in every month. Some months are 31 days long, others 30, 29 and even 28.
So to simplify things landlords charge rent per calendar month (pcm) which means that you pay the same amount every month regardless of the length of the month. This is calculated as follows:
weekly rent x 52 weeks = rent per annum (pa, or per year)
annual rent / 12 months = monthly rent
£200pw x 52 = £10,400pa
£10,400 / 12 = £866pcm
We hope that this clears up some of your questions. Please feel free to comment or email us at mail@redresidential.com if you have any other queries.
Oh, Its different calculation. I'll try it..
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