The Rent Payment Account provided through Clockwise aims to provide the tenants of social and private landlords with the facility to pay their rent on time and in full. It is particularly useful in cases where tenants are in receipt Universal Credit which, when paid to the tenant, can be eaten up in overdrafts, standing orders or simply spent by mistake resulting in arrears. When joining the scheme, a Universal Credit (or other benefit or waged income) is made directly into the Rent Payment Account and withdrawals against this amount for any other purpose are not permitted by the tenant.

Benefits to the Landlord

  • Assurance that rent will be received regularly in full and on time
  • One month’s notice is given for payment cancellation
  • Not dependent on tenant’s money management
  • Payment transferred directly into account
  • Avoid eviction and court costs

Benefits to the Tenant

  • Reduce stress around money management
  • Decrease rent arrears and the possibility of going into arrears
  • Reduce the risk of homelessness
  • Ease procedure in finding accommodation
  • Promote financial stability, easy access to other Credit Union products

Contributing to local Community

  • Reduce homelessness
  • Promote financial stability in the community
  • Promote financial inclusion
  • Support a co-operative organisation
  • Support housing supply and demand across the county.

How to Apply

Read through the social and private rent pages (depending on who you pay your rent to).

Email enquiries@clockwise.coop or telephone us on 0116 242 3900 for more information about Rent Direct.

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