If you live in a rented accommodation and pay your rent weekly, I have a bad news for you: you overpay! Pay your rent monthly!
Two years ago I was renting a hause through the agency (first and the last time - they were completely useless). I was told that rent is 700 monthly, but landlord prefers to collect it weekly and I was asked to pay €175 per week. I left this house asap. Why?
€700 monthly equals €8 400 per year (€700 * 12 months of calendar year).
€175 weekly equals €9 100 per year (€175 * 52 weeks of calendar year).
The difference between these two is €700, which means that landlord was hoping to get extra monthly rent from my wallet. I suggested fair rent of €161,5 weekly based on monthly rent (€8 400 / 52), but he didn't want to even heard about it (same as agency), so I moved out.
As you can see on my example: don't pay weekly rent, unless it's fairly calculated!
Thank you so much for posting this article. It's really helped me a lot. You're a great writer.
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