# Rent

{% tabs %}
{% tab title="DIRECT DEBIT" %}

* **Direct Debit**
  * Automated payment collection on due date (autodebet)
  * Monthly, quarterly, termly (academic term)
  * UK bank account required (Lloyds, Barclays, HSBC)
  * May require a guarantor
* Advantages
  * You can divide the payments, so you don’t need to pay a large amount of money in one payment.
* Disadvantages
  * The total amount of money that you need to pay increase, because of the interest rate of the rent. Carefully read the detail of interest in the contract!
  * Additional fee for people who use Guarantor Service.
  * It is hard to find people who willing to be a guarantor.

{% hint style="info" %}
Things that need to pay attention to

* Interest rate (the shorter the period, the higher the interest)
* The schedule of direct debit (make sure you have the amount of money in the bank before payment date)
  {% endhint %}
  {% endtab %}

{% tab title="DIRECT PAYMENT" %}
**Direct Payment**

* Visa, Mastercard, AMEX, JCB (online)
* Bank transfer

**When to pay?**

* Immediately after you sign a contract and before the start of the rent date or the date that stated in the contract.

**How?**

* In the contract you will get the amount of money that need to be paid. The payment need to be done in one transaction (doesn’t rule out the possibility to have more than one transaction).

**Requirements?**

* Bank Transfer
* Credit Cards
* Evidence of Transaction
* Doesn’t need to be UK Bank account

**Advantages**

* No additional expenses
* No additional work

**Disadvantages**

* Spend a lot of money in one transaction
* Prone to a big problem, if there’s an error while doing transaction

{% hint style="info" %}
Things you need to pay attention to

* Due date
* Amount of money
* Bank details and information
* Evidence document
  {% endhint %}
  {% endtab %}

{% tab title="GUARANTOR" %}

* **Direct** **Debit** - Guarantor
  * In order for you to guarantee that you are able to pay all the Direct Debits payment, a guarantor is needed.
  * Guarantors act as the party who is responsible if you are not able to pay the direct debit at a certain time.
* **Who can be a Guarantor?**

&#x20;      It should be a UK Resident who is willing to do it for you.

* **Common requirements for Guarantor (depends on the landlord):**
  * Have a legit job
  * Currently live in UK
  * Have a property in UK
  * Not retired (some landlord asks for this)
  * From relatives or family (some landlord asks for this)
* **Can’t find a Guarantor?**
  * Use a Guarantor service such as: Housing Hand
  * Some agent usually provides an option for guarantor service.
  * This service requires you to pay additional fee for the Guarantor.
    {% endtab %}
    {% endtabs %}

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