In partnership with City of Cardiff Council and some of our local housing associations and private landlords, we are currently offering a pilot scheme to help tenants ensure regular rent payments are made directly to their landlord.
This service has been introduced as a result of changes to the benefit system, which will put the emphasis on tenants to arrange their rent payments to their landlord directly in future.
Our Rent Protect service enables eligible tenants to set up payments to participating landlords, direct from their credit union savings account. Funds required for rent payments are ring-fenced to ensure it is transferred directly by us to the landlord when it is due. There are no fees to tenants for this service, but a fee is charged to the landlord.
This service is particularly helpful for those who want support with budgetting their income and making sure that their rent money can't be spent on other expenses or bills. It also helps landlords, as it gives assurance that the rent due will be transferred to them when received into their credit union account.
Any income can be paid into a credit union account, including salaries, benefits and pensions. Any money left in the account after the rent has been paid is available to tenants to save, or to withdraw by transferring into a bank account or onto our pre-paid debit card.
Our Rent Protect factsheet is available for download. If you are interested in joining the scheme and would like to find out whether you are eligible, please contact us or speak directly to your landlord.