Social landlord optimises rent payments ahead of universal credit with pioneering agreement
Published by Jon Land for 24dash.com in Housing and also in Bill Payments, Universal Credit
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A social landlord is optimising rent payments from tenants ahead of universal credit through a pioneering agreement with its local credit union.
Newark and Sherwood Homes is working closely with East Midlands Credit Union to ensure account-holding tenants pay their rent on time - without having to lift a finger.
This will be particularly useful when benefit payments are paid direct to tenants under the new universal credit system, currently being rolled out across the country.
Under the agreement, tenants can have their wages or benefits paid directly into the credit union account, which then pays the rent to Newark and Sherwood Homes.
There is no need for tenants to physically make a payment or even set up a direct debit on their account. The rest of their money is then paid to a bank account of the tenant's choice or onto a prepaid debit card they can use online or in shops.
As an introductory offer, Newark and Sherwood Homes will also pay the £10 membership opening fee, along with the monthly transaction costs for any of its tenants.
Debbie Locker, Senior Housing Officer at Newark and Sherwood Homes, said: “We have responded to feedback from tenants who were looking for a simpler way to manage their money and pay their rent. We are pleased to be working with East Midlands Credit Union and hope as many tenants as possible will be able to take advantage of this.”
Tony Straw, chair of the Newark and Sherwood Federation of Tenants and Residents Association, said: “We welcome the fact that Newark and Sherwood Homes has linked up with East Midlands Credit Union, which is a very positive step towards helping tenants to manage their money and ensure they can pay their rent every month.”
Newark and Sherwood Homes is the Management Organisation that was set up by Newark and Sherwood District Council in 2004 to manage, maintain and improve council housing.