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