What does PCM mean in renting?

The acronym PCM can stand for many different things depending on how it's being used. 

In renting, PCM stands for 'per calendar month' and is generally used to show how much rent you pay and how often you pay. So, if your rent costs a certain amount 'PCM', this is the amount you will pay to your landlord or letting agent each month.

It will be outlined in your tenancy agreement whether your rent is paid PCM. If so, this means that you'll pay a fixed amount each month, regardless of the amount of days in the month.

This makes it much easier for tenants to know what they're paying each month as you don't need to worry about how many days are in each month, and you don't need to pay weekly.

Paying PCM, or per calendar month can make things a lot more convenient for everyone involved due to the consistency of the rental payments. 

For tenants, you should see in your rental agreement, the date of each month you need to pay rent and the amount - these will be the same every month, which means you just do the same thing each month and you don't have to keep checking dates or amounts each time.

It is also good for tenants as one monthly payment (usually at the beginning or end of each month) generally lines up with when most people get paid.

Paying PCM can also help make it easier to budget, as you know the set amount of rent that you'll need to pay every month, in line with other bills.

For landlords, PCM rental payments are also generally more convenient as they may have mortgage payments to make which will also be taken once a month.

Despite the convenience of PCM and all of the positives, depending on your situation, there are some drawbacks.

For example, there is limited flexibility in when you can pay, with due dates quite structured. This is fine for people who are paid a set amount monthly, but if you're paid more sporadically, it may mean you need to be more organised and plan in advance to make sure you can pay rent each month.

PCM rent is also not the most suitable in some situations, for example, with a short-term or holiday let, where tenants may be in the property for weeks rather than months, PCM generally isn't the most convenient for all parties.

In most instances, PCM rent will only cover your rent and you will need to pay all of your other bills separately. 

In some cases, including a lot of student lets, your bills or some of them may be included within your rent. If you're not sure what bills you need to pay on top of your PCM rent, it is best to check your tenancy agreement, which should outline exactly what the rent covers.

PW rent, or 'pay weekly' rent is different to PCM rent in that tenants pay smaller, more frequent amounts towards their rent. Rather than being charged every month, you'd instead be charged once a week. 

This can be useful for short-term lets or people who are paid weekly from their job, but it means more admin for everyone involved.

Is PCM rent for each person or total?

This will depend on the type of tenancy you're renting. If you are renting a room in an HMO (house of multiple occupancy), and each tenant has their own tenancy agreement, then the rental amount in the tenancy agreement will be what you pay for your share.

If you're renting with friends or family and you're all on one tenancy agreement, the rent listed in the tenancy agreement will be the total amount, and you can split this between yourselves. Read our article for help on how to divide bills in a house share.

Why do landlords prefer monthly rent over weekly?

Monthly rent is not only more convenient for most tenants, it is also easier for landlords. Receiving the rental payment monthly rather than weekly means they have less payments to track and therefore less admin. It also lines up with their mortgage payments if they have a mortgage on the property, as they would also pay this monthly.

Is PCM rent negotiable?

Once rent is agreed and formalised in the tenancy agreement, there usually isn't flexibility in terms of the rental amount. If you are having trouble paying your rent, it is best to speak to your landlord or letting agent as soon as possible to find out how they can help and what your options are.