Rent & Service Charge Collection
Our shared ownership customers pay rent monthly for the portion of the property which they do not own.
Shared owners who purchase more shares in their properties will pay proportionally less rent.
Once you have staircased to 100% ownership, rent is no longer payable.
Tower Homes also offer properties to let exclusively for key workers. These key workers pay rent monthly as agreed in the tenancy agreement.
Ensuring that rent is paid on time is vital to us as this money is used to repay loans Tower takes in order to provide the shared ownership part of the property.
We prefer you to pay by direct debit as stated in shared ownership leases and tenancy information booklet. We collect this on the first banking day of every month.
On the rare occasions when this proves difficult, we can be flexible and accept payment by standing order, credit or debit card, cheque, postal order and payment via internet banking. (Please contact us for further information).
Our Financial Services team is responsible for setting up rent accounts and organising the rent statements which we send out quarterly to all our customers.
If you have queries regarding your account or statement, please contact us and we’ll do our best to help.
We increase rents once a year in accordance with the terms of your lease or letting agreement. We’ll send you a letter at least 30 days before the increase takes place. In this correspondance we’ll inform you of the new rent and when we’ll collect it. Please contact us if you need clarification.
If you’re having difficulty paying your rent, please refer to the section on Housing Benefit Payments & Debt Advice.
If would like to find out more about this service, please contact Financial Services.