If you are looking in Chelmsford for a room to rent it is likely that you see rooms advertised on a weekly rate basis. If you are looking for flats or houses in Chelmsford then every agent or landlord will advertise the price on a monthly basis.
Why are rooms advertised on a weekly basis?
In most cases rooms are advertised on a weekly basis because sometimes people may be renting rooms on such a short term arrangement and therefore it is easy to work out the actual rental figure to pay. The bigger reason is that a lot of landlords ask for the rent to be paid on a weekly basis also so it makes sense to advertise the room price on that basis.
Whether rooms are advertised on a weekly or monthly basis it is important that you understand how to calculate the difference between the two. Please do not make the common mistake that you simply multiply the weekly figure by 4!!
Please see below a list of weekly rents and their monthly calculations:
£90 per week = £390 per month
£95 per week = £411.66 per month
£100 per week = £433.33 per month
£105 per week = £455 per month
If you see a room advertised at a weekly price and want to work out what you will pay on a monthly basis you need to make the following calculation.
Weekly price x 52 (number of weeks in a year) / 12 (number of months in a year) to get a monthly price.
Effectively some months have four weeks in them and some have five with the average being 4.33 weeks. If you payon a monthly basis then it is averaged out so that you pay the same each month rather than having to change it each times the number of weeks in a month changes.
We collect rents from the majority of our tenants by standing order on a monthly basis although some do pay via standing order on a weekly basis also. Paying £90 every week or £390 every month comes to the same figure at the end of the year at £4680. Do the calculation yourself to see.
If you are interested in any of the rooms we have available in Chelmsford please do not hesitate to get in contact.