Rent and service charges
The rent we charge
Rent is due every Monday and is payable one week in advance. It is very important to pay your rent every week to avoid getting into arrears. If you receive your income monthly, and wish to pay monthly, this is also due in advance.
The rent we charge you covers the use and occupation of your home. All the rents we collect are used to cover such items as:
- The cost of managing and repairing your home
- Provisions for major repairs or improvements in the future
- Loss of income on empty properties and rent arrears.
Your rent and how we set it
The rent we charge you covers the use and occupation of your home. All the rents we collect are used to cover such items as the cost of managing and repairing your home and a provision for major repairs or improvements in the future.
We set our rents in accordance with a formula and guidance issued by our regulator. Our rents take into account local property values, local earnings and the number of bedrooms a property has.
Your rent will change each year by an amount not greater than the consumer price index (published in September of the year before the rent increase), plus 1%.
Non rent collection weeks
Some of our tenants have four non rent collection weeks each year. We will let you know the dates of these weeks every year in your annual rent and service charge adjustment letter, which will give you at least 4 weeks’ notice of your new charges. We will also publish the dates on our website, and the dates appear on your rent statements.
You will be told whether or not you have non rent collection weeks when you sign up for your new home.
If you pay by direct debit, or standing order, your rent is normally divided into 12 equal payments so the rent collection free weeks have already been taken into consideration.
How to pay your rent
There are a number of ways you can pay your rent:
- You can pay by Direct Debit or Standing Order. If you wish to do this, please contact us, and ask for a form
- Magna website - visit www.magna.org.uk to pay your rent online. Click on ‘my account’ at the top of the screen, and then ‘make a payment’. Select the payment type ie ‘Housing Rent’, and fill in the boxes on screen. You will need your personal reference number
- If you wish to view your account online, please log onto www.magna.org.uk, click on ‘my account’ at the top of the screen, and then ‘view my account’. You will need to register as a user and obtain a PIN before you can access your own rent account
- Internet banking - online, with your own bank. You’ll need to visit your online bank account and make a payment to our account:
Dorset and Devon residents:
Magna Housing Limited Main Account 1
Sort code: 20-27-12
Magna Housing Limited Main Account 2
Sort code: 20-27-12
You will also need your own personal reference number.
- You can send a cheque direct to us. Please make all cheques payable to Magna Housing Limited and write your name, address and personal reference number on the back of the cheque.
You should make sure that you keep your receipts for the rent you have paid.
If you have any problems paying your rent, you should speak to us at the earliest opportunity. We have a section called ‘Help and advice about rent arrears’, which sets our procedures for dealing with tenants in arrears.
Your account statements
You will be sent a rent account statement annually. If you owe us money and you are not paying us under an arrangement, we will send them more often.
You can also ask for an account statement from us at any time, or you can simply check your balance by phoning us or registering on our website. If you phone us, we will ask you some security questions before we disclose details with you.
You may pay service charges in addition to your rent. If so, you will receive details of any service charges at the start of your tenancy. Service charges cover services, repairs, maintenance and other costs, which vary from year to year.
Examples of items classed as services include the following:
- Cleaning and servicing communal areas
- Refuse services
- Fire alarms, detection and fire fighting equipment
- Door entry maintenance
- Lighting in communal areas
- Maintaining communal equipment.
This list is not exhaustive.
Service charges do not cover day to day repairs, major works or cyclical maintenance (including gutter clearing).
How we work out service charges
Service charges are based on the estimated costs of providing services to you. You will be notified about these estimated costs before the start of each financial year. At the end of the year, we will work out the actual cost of providing these services. We will notify you each year about the actual cost of providing the service for the previous financial year. We will then make an adjustment for any under or over payments you have made in the following financial year.
Please contact us if you have any queries regarding service charges.