your weekly rent

Your rent is charged in advance to your rent account on the Monday of each week, together with any other charges due.

It is your responsibility and the responsibility of any other tenants named on your tenancy agreement to pay your rent on time and in full. It’s important to understand that while other named occupants in the household might contribute to the rent, the named tenant(s) that have signed your tenancy agreement are solely or jointly responsible for paying the rent – and clearing any arrears due.

rent collection

Your rent, as assessed, is collected over a 48 week period, meaning that no rental charge is applied to your account on 4 weeks during the year.

The weeks where no rental charge is applied normally take place at:

✔ Easter (1 week)

✔ June (1 week)

✔ Christmas (2 weeks)

If you pay your rent by monthly standing order, the amount stated on your standing order form includes no charge for the 4 weeks.

estate charges

Additional weekly charges may apply for services, depending on the estate that you live in.

For example, tenants may be required to pay a weekly charge for tenant services and waste collection.

The charge for tenant services is a contribution towards the cost of maintaining communal areas and facilities; including services like landscaping, lighting, lift maintenance, fire alarm systems, CCTV, door entry systems etc.

Other charges covering services like parking, window cleaning and additional storage for example, may be optional. The full range of services available on your estate will be explained to you before you sign your tenancy agreement.

how to pay

1. by standing order

You can set up a standing order payment with your bank to be paid monthly, fortnightly or weekly. We will provide you with a Standing Order Form containing all the information you need to set up your standing order – all you need to do is fill in your own details and take it to your bank, without delay.

2. at your estate office

If you live on an older Iveagh Trust estate, you may be able to pay your rent at your local estate office. Check with your estate manager for weekly opening times.

3. household budget scheme

If you collect a social welfare payment at the Post Office, you may be able to pay your bills, including your rent, through An Post’s Household Budget Scheme.

The Household Budget Scheme will automatically deduct your rent from your social welfare payment and pass it directly to the Iveagh Trust. For more information, get in touch with us.

how is my rent calculated?

The rent that you pay is set as a percentage of your household income and this is known as a “differential rent.”

Your rent will increase if your household income goes up, but will also reduce if there is a fall in your household income, ensuring that it always remains affordable. The way that your rent is calculated depends on the type of funding that was provided to build, purchase or refurbish the property that you live in – and the terms and conditions attached to that funding.

For example, differential rents for properties funded under the Capital Loan and Subsidy Scheme (CLSS) are calculated at approximately 15% of your total net household income.

For newer properties, the rent scheme of the local authority where the property is located may apply. We will provide you with more information on the particular differential rent scheme that applies to your property when you move in.

what is a differential rent scheme?

A differential rent scheme is a set of rules used to calculate what proportion of your income will be paid as rent, ensuring that your rental charge is affordable according to your household income.

Many Differential Rent Schemes operate in Ireland and each Local Authority operates their own scheme. The type of rent scheme that we use to calculate your rent is a condition of the funding we received to build, purchase or refurbish the property that you live in.

For older properties, your rent may be calculated under the Iveagh Trust’s Differential Rent Scheme, which is based on the terms and conditions of the Department of Housing’s “Capital Loan & Subsidy Scheme”.

For newer or refurbished properties, your rent may be calculated according to the rent scheme of the Local Authority where the property is located.

how often will my rent change?

Your rent will be assessed at least once a year as part of an annual rent review.

We will send you a Confidential Income Statement (CIS) in January each year. The CIS form asks you to provide details of your household income for the previous year, along with supporting documentation like payslips, P60 or social welfare receipts.

The CIS must be completed in full and include details of any income received by all members of your household. Based on the information you provide, your rent will be reassessed and a new rental charge will come into effect in April of each year. We will always write to you to let you know about any changes to your rent in advance.

Failure to return your Confidential Income Statement and all of the required documentation will result in a weekly financial penalty, equivalent to one week’s rental charge being applied to your account for each week that the information is not provided.

Continued failure to provide the required information may lead to the termination of your tenancy.

what happens if my income changes?

If your household income goes up or down, call us and we will arrange to reassess your rent.

Failing to let us know that your income has increased may jeopardise your tenancy, it is a breach of your tenancy agreement and we may apply a backdated charge to your rent account.

rent receipt statements

We will provide you with a full statement of your rent account, four times a year. You can also request a statement of your rent account at any time.

The rent statement will clearly outline the week number, rental charge, amount paid and current balance for the preceding three months. If you have any questions at all about what’s in your rent statement, don’t hesitate to get in touch with us. You should keep your rent statements in a secure place for your own records.

arrears – missed payments

It is your responsibility to ensure that your rent and service charges are paid weekly in advance, on or before the Monday of each week.

Failure to pay your rent is a breach of your tenancy agreement and we will write to you immediately. Continuous failure to pay your rent will lead to the termination of your tenancy.

If you are unable to make a payment, please get in touch as soon as possible. We will endeavour to work with you and, if possible, put in place an arrangement to clear any arrears on your account.

rent receipt statements

We will provide you with a full statement of your rent account, four times a year. You can also request a statement of your rent account at any time.

The rent statement will clearly outline the week number, rental charge, amount paid and current balance for the preceding three months.

If you have any questions at all about what’s in your rent statement, don’t hesitate to get in touch with us. You should keep your rent statements in a secure place for your own records.

support services

Worrying about money can put a strain on your physical and mental health. If you are experiencing difficulty paying your bills, there are a number of organisations and charities there to help with practical advice and in some cases, financial support.

Talk to us about your situation and we will try to put you in touch with the right people.

ONLINE PAYMENTS

You can now pay your rent and other charges online by clicking here.