It is a common occurrence for renters to be confronted with a plethora of different pricing metrics during an apartment hunt. Landlords, agencies, sub-letters offer rental prices weekly, monthly, fortnightly, and sometimes even daily. This is confounded by the fact that rents can be collected based on different time periods, such as monthly (per calendar month) or every 4 weeks.
It is easy to be confused by the headline figures. For example, $300 weekly rent does NOT equal $1200 monthly rent. The monthly rent is not simply multiplying the weekly rent by four. This is because every month has different number of days within it, and that has to be taken into account.
Therefore, renters will always need to be able to convert weekly to monthly (per calendar month) rent and vice versa. This article shows you how to create your own calculator to achieve this.
First, we calculate weekly rent from you per calendar month (PCM) rent. For argument’s sake that’s say your monthly rent is $700. To calculate your weekly rent, multiply your monthly rent by 12 to calculate your annual rent. 700 x 12 = $8,400. Since we know that there are 52 weeks in a year, we then divide $8,400 by 52 to return our weekly rent. So it is $8,400 / 52 = $161.53.
Conversely, to calculate monthly from weekly rent, we first multiply the weekly by 4, then one-third on one week’s rent. So for example if my weekly rent is $120, then to … Continue Reading ...