Finance

Co-ops are independent legal entities, responsible for their own financial management. CEHL provides services and resources to assist co-ops in the Housing Program with their financial administration.

Rents Explained & Treasurers Toolkit

Rents charged in the CEHL Program are designed to be affordable for renters on low incomes. Renters are charged rent according to their household income.

Rents are the primary source of income for the co-operative. Rent income is essential to meet maintenance and administration costs.

To manage rent income for your co-op it is vital co-ops:

ensure renters are paying their rent on time and, in accordance with the Housing Program policy and procedures
take prompt action whenever rent arrears occur to assist the renters to get back on track and sustain their tenancy

NOTE: Residential tenancy bonds are not charged under the Housing Program.

Renters are charged rent according to their household income. There are a number of different rent calculations used in the program. The rent calculation will depend on the type of co-op a renter is a member of. The Housing Program Rent Assessment Policy outlines these details.

How rent is paid

Each co-op will use payment systems that best meet the needs of their renters. Common facilities offered by co-ops to their renters are:

Direct payment at a post office or bank
Centrepay
Automatic bank transfers

What happens to my rent if my income changes?

If a household income changes by more than $50 a week (goes up or down) the rent you pay may need to change.

1. Contact the relevant person:

	Who to contact if your income changes
CERC member	Your Co-op Treasurer or Finance/Rent Officer
CMC member	CEHL Tenancy Co-ordinator

2. Submit a new Household Information Form HIF

Provide income evidence as per the Rent Assessment Policy

Treasurers Toolkit

List of all available resources

How to read CEHL statement

Download

CEHL Centrelink Consent Form

Download

Change of Tenancy Details Sheet

Download

2023 Audit Checklist + Petty Cash Declaration

Download

Co-op Treasurers Manual - June 2023

Download

Cash Payment Journal

Download

Circuit Manual - ISSUE TWO JUNE 2023

Download

Household Rent Program Policy

Download

Household Rent Guide

Download

Maximum Rent Fact Sheet

Download

Company Rent- How to Guide

Download

Household Information Forms (HIF)

Download

Rent Calculator 2024-2025

Download

ACNC Fact Sheet

View

CAV Fact Sheet

View

Business Activity Statement Guide

View

CEHL Financial Services

Financial services offered by CEHL to member co-operatives.

A number of financial and administrative services are offered by CEHL to assist member co-operatives to perform their obligations.

The following services are offered to co-ops for a monthly fee.

For more details about these services contact your Co-op Development Co-ordinator or a Finance Officer on 9208 0800.

Bookkeeping (Monthly) Service

Update circuit with receipts and payments
Perform bank reconciliation
Renter changes
Update rent cards and send directly to renters
Monthly reporting of rent cards and accounts to co-op
Assistance to produce documents required for reporting purposes by CEHL & Australian Taxation Office etc

Rent Calculation Service

Eligibility assessment for new renters
Rent calculations for new and transferring renters
Rent calculation when tenant’s income or household composition change

Arrears Management (Weekly) Service

Allocate bank and Centrepay deposits weekly for a co-op renters
Provide rent arrears reports to co-ops
Working directly with the renter to support their tenancy through arrears management
Attend Victorian Civil and Administrative Tribunal VCAT hearings as required

Co-op Financial Management

Outline of co-op's financial management responsibilities.

CEHL has two primary models of co-operatives in our housing program:

The co-op modelsdiffer in their responsibilities and in the financial management requirements performed by the co-op members. For more details see Governance + Co-op Financial Management

The tables below outline the responsibilities in relation to financial management for CERC and CMC co-op models. For more detail see

Financial management roles and responsibilities

Co-op Model	Treasurer	Rent & Tenancy Management	Maintenance
CERC	manage day-to-day financial matters eg: pay bills, banking, within Circuit (cash book program) allocating rent and monthly reconciliation prepare an annual budget to ensure the co-op can meet all expenses from rent received prepare and lodge quarterly Business Activity Statement BAS with the Australian Tax Office ATO quarterly financial reporting to CEHL prepare information for annual audit	Provide all documentation to assess the eligibility of new renters with CEHL See eligibility policy calculate rent according to Rent Policy for existing renters communicates with renters about rent, provide rent statements follows up rent arrears, catch-up agreements and Victorian Civil & Administrative Tribunal VCAT hearings	work with Treasurer or Rent Officer to provide a report on maintenance expenditure per property ensure maintenance spending is within budget ABN check on suppliers for correct GST recording
CMC	Manage co-op administration budget and related bills (within Circuit Program) Keep records and produce reports for the co-op prepare information for annual audit	Administered by CEHL's Housing Services	Administered by CEHL's Maintenance Team

CERC - Common Equity Rental Housing Co-operative

CMC - Community Managed Co-operative

Types of income evidence

Types of income evidence:

Payslips (at least 4 weeks)
Centrelink Income Statements
Centrelink Payment History (past 12months) (can be obtained online via your Centrelink Account)
Bank Statements
Declaration from parents
Letter from Institution providing Scholarship or Grant
Notice of Assessment for Annual Tax Return
Dividend Statements
Interest history (can be obtained via online banking for past 12 months)
Statement from Superannuation Fund

Or refer to the Program Policy Household Rent for more information.

See the Household Rent Guide for all details about rent is determined, assessed and reviewed.