Standing Order Mandate Form

A standing order, which should not be confused with a direct debit, is by far the simplest and most reliable form of payment collection to ensure your room rent is paid on time at the agreed amount. A standing order is an instruction to the bank to send a set amount of money on a set day each month to a beneficiary, whereas a direct debit is a beneficiary claiming money from their customers account.

Although the amount and date are set you should always check the rent has reached your account at the agreed amount, you are responsible for checking the payments and should provide a receipt to your lodger each month. If your lodger fails to pay you on time or cancels the standing order you should confront them immediately and seek to resolve any issues your lodger is experiencing.

Download a standing order form for your lodger to fill in at the time of signing the lodger agreement and receiving the deposit. Remember to be clear about the duration of the rental term, the amount of rent you are charging and charges for other services. Also, be aware that if the amount you are charging your lodger changes your lodger will need to fill in another standing order form.