Why is my new rent based on 53 weeks?
03/07/2024
We have had some customers call to ask why their rent this year is based on 53 weeks, and what this means if you are in receipt of a benefit. Here’s a helpful overview:
There are 53 Mondays in the 2024/25 financial year, which runs from Monday 1 April 2024 until Sunday 6 April 2025, with the last Monday being on 31 March 2025.
This happens every five or six years, because there are 365 days in a year or 366 in a leap year. This breaks down to 52 weeks in a year plus 1 day, or in a leap year 52 weeks plus 2 days. These extra days then accumulate to add an extra week to the year.
This means:
- If you pay your rent monthly, we will use the following calculation: new weekly rent charge multiplied by 53 then divided by 12
- Universal Credit (UC) will not cover the 53rd Monday. So, all UC customers who receive the housing element will need to cover this charge
- Housing Benefit covers all chargeable weeks so are not affected
- You can pay this over the course of the year, and in most cases is a few £ a week, for example, weekly rent of £200 divided by 53 = £3.77 per week or if you want to pay monthly = £200 divided by 12 = £16.67.
Those who have older tenancies which include rent free weeks are not affected.