Direct Debit

The easiest way to pay your rent is by Direct Debit and this ensures you never miss a payment.

It is:

Flexible – rent payments for a house can be scheduled weekly/ fortnightly/ 4 weekly/ calendar monthly on any date of the month (excluding the 31st ).

Convenient – Payments are updated automatically so there’s no need for you to tell your bank when your rent amount changes . You will receive at least 10 working days notice of any changes to your payment amounts and dates.

To set up a Direct Debit please complete our online Direct Debit form

Direct Debit and Rent Free Weeks

If you pay your rent by Direct Debit the four rent free periods are taken into account when we work out how much you will pay. We do this by working out the annual rental charge over 48 weeks and divide it by the number of payments  you choose to make during the year .   

We do this because we cannot stop and start the Direct Debit each time the rent free week occur.   

 

How do you calculate my Direct Debit?

Using the weekly rent charged over 48 weeks we work out the amount of rent you will pay for the year and divide the annual rent by the number of payments you will make.

How do you calculate a weekly Direct Debit payment?

It is the weekly rent X 48 = annual rent / 52 payments

The Direct Debit will pay on the rent free weeks but the amount you pay each week will be less than that the actual weekly rent.

How do you calculate a fortnightly Direct Debit payment?

It is the weekly rent X 48 = annual rent / 26 payments.

For example Weekly rent is £80

Annual rent is 80 x 48 = £3,840

Fortnigthly direct debit is 3840/26 = £147.70

 

 

How do you calculate a calendar monthly Direct Debit payment?

It is the weekly rent X 48 = annual rent / 12 payments

How do you calculate a 4 weekly Direct Debit payment?

It is the weekly rent X 48 = annual rent / 13 payments.

 

How do you calculate a Direct Debit set up mid year?

It is the weekly rent X the number of weeks left in the year to pay =   annual rent /chosen payment frequency.