What is a Standing Order?
A standing order is a regular payment that you can set up to pay other people, organisations or your other bank accounts. You can amend or cancel the standing order as and when you like. Homesure will give you the paperwork to set this up at the start of
So to pay your rent, you will be required to set up a standing order (SO) on a monthly basis.
How long does it take for a standing order to reach Homesure?
Generally, it takes three working days for a standing order payment to move from one bank account to another, so your money may not move over weekends or bank holidays. The bank usually submits the payment instruction on day one, when your account is debited. The payment is then processed and reaches the recipient’s bank on day two, which then updates its accounts and makes funds available in the recipient’s bank account from the start of day three.
So you will need to set your SO up for 3 days before the rent due date.
How so I set up a standing order
Homesure will give you a form as part of your tenancy documentation. You can also set this up at your bank of via 0nline banking (which is much easier).
Your Property Manager can help you with this.
How do I cancel a standing order?
You are the only person that can cancel a standing order. You can cancel a standing order at any point in branch, over the phone or via secure online banking.
You are responsible for cancelling your own standing order at the end of the tenancy.
What if I cancel my standing order or don’t have money in my account to cover it?
This means you will be in rent arrears and may incur charges from Homesure for late payment. The landlord is unlikely to renew the tenancy of tenants who fall into rent arrears. If the rent is not paid within the allocated time then eviction procedures will be started to remove you from the property.
All rent needs to be paid into the Homesure bank account, we do not take cash payments
What if I cannot set up a standing order or don’t have a bank account?
Unfortunately, you will not be able to rent a property from Homesure. You could get a guarantor who could pay the rent on your behalf so there may be ways to work around it.
All rent are required to be paid by standing order each month, we do not take cash at the office.