Priority Rent Account
OUR RENT ASSURED SERVICE FOR LANDLORDS.
A hassle-free way to manage your rental income. The Priority Rent from 6Towns Credit Union is an easy way of managing rental payments from tenants in receipt of Universal Credit or Local Housing Allowance (LHA).
Unlike the old Housing Benefit, Local Housing Allowance (LHA) is paid direct to tenants and Universal Credit includes any allowance for housing in the total lump sum tenants receive. Both of these situations can cause problems for landlords. With the 6Towns Priority Rent Account, we collect a tenant’s LHA, or separate out their rent from their Universal Credit payment, and then pay it directly to you.
This means that tenants can’t spend rent money on other things, and ensures you receive payments on time. We will usually send funds to landlords on the 14th and 28th of each month.
Most landlords chose to receive funds every fortnight when housing benefits are paid.
Benefits of scheme
Rent paid directly to Landlords
Low cost service
Improved financial well-being for your tenant
We also give tenants the facility to top up the housing benefit reducing the arrears.
They’ll also get access to all of our other services including a free savings account and the ability to apply for our affordable loans.