Finance FAQs for members in homes

If you are already a member of Lyvly and have some queries about your finances

• When are my rent payments due?
  Your rent is always due on the 1st of the month. We understand that members are often paid on different days, but we cannot flex the due date. We would strongly recommend paying by a direct debit or standing order so you don't miss any payments.

• What happens if I am late paying rent?
  We know that sometimes something unexpected happens, so if you do find yourself unable to pay rent please get in touch with us first before missing a rent payment. 
  If you do continue to miss rent payments, you could be subject to interest charges. In extreme cases we would ask you to leave Lyvly and you would be passed over to a third party debt collector.
• I can no longer afford my rent*
  If your affordability changes, get in touch with us. We can potentially offer you a cheaper room in our community or work out a payment plan to make things easier in the short term.
  * If you have been impacted by COVID-19 please do get in touch as we are able to offer Rent Holidays and payment plans to make things easier for you.

• Can Lyvly accept payment from a credit card?
  Not for your monthly rent payments. You need to either pay by direct debit, standing order or by direct bank transfer. We would strongly recommend paying by a direct debit or standing order so you don't miss any payments.
• I paid a number of months’ rent upfront. What happens after my prepaid months are up?
  You will start paying monthly from the next month i.e if you paid 6 months in advance you will be charged from the 1st of month 7. To avoid missing this payment, make sure to set up a direct debit or standing order when you join.
• Can I set up a direct debit with Revolut?
  No, a direct debit cannot be set up with Revolut. You can however set up a direct debit with Monzo.
• Can I change the account that I pay my direct debit from?
  If you need to change the back account your rent comes from, you will have to cancel your current direct debit and set up a new one from the link sent to you. We are not able to do this for you.
• Can I make an international bank transfer?
  Yes, but bear in mind that international bank transfers can take up to 10 working days to reach us, and that there is often a fee. This is normally between £7-£20, and it will be automatically deducted from the transfer. Do make sure you check what the fee is for your bank, and make sure that’s added onto the transfer. E.g. if you are transferring £1500 and the international transfer fee is £7, make sure to transfer £1507.
• My £100 reservation fee hasn’t been allocated to my first month's rent? Normally, your £100 reservation fee will be allocated towards your first month’s rent. However, if you are moving in at the end of your month, so that the amount of days you’re in your new home during the first calendar month would not be equal £100, it will be deducted from your next month’s rent. E.g. if you are moving in on the 29th April, your £100 will be deducted from your rent in May.
• Can I set up a direct debit with an international bank account?
  Your direct debit needs to set up with a UK bank account. If you are yet to set one up, a Monzo account is very quick and easy to set up from which you can set up a direct debit.