Paying your rent

As a co-owner, you pay rent on the share of the home that Co-Ownership owns. While you pay your mortgage on the share you own (Co-Own only), the rent covers the portion we’ve invested in your property. That income allows us to remain affordable and helps fund future Co-Ownership homes across Northern Ireland. 

As a not-for-profit organisation, the rent we receive is used to help more people become homeowners.

How your rent is calculated

Your rent is calculated based on the value of Co-Ownership’s share in your home. Rent is set at 2.5% of the value of our share. 

Put simply, that works out at £25 per year for every £1,000 that Co-Ownership owns.

What's included in your rent - and what isn't

• Ground rent, if applicable to your property, is included in your Co-Ownership rent payment.
• Management company fees or service charges (for example, apartment block maintenance or communal area upkeep) are not included. These must be paid separately to the relevant managing agent.

Annual rent review

Co-Ownership rent is reviewed once a year, typically in April. 

Any adjustment is linked to inflation to ensure Co-Ownership remains sustainable long term. If your rent is due to change, we will always write to you in advance to confirm your new rent amount, and when the change will take effect. 

We will never make changes to your rent amount without informing you in advance.

How to pay your rent

Rent is payable in advance by Direct Debit through allpay Limited, and you can choose to pay on either the 1st or 10th of the month. Alternatively, you can make payments through your online account.

If you moved into your home part-way through a month, your first payment will include a pro-rata amount to cover the remaining days.

If you ever need to make a change to your payment arrangement or discuss your arrangement, simply contact our team. 

Rental exchange and your credit record

Co-Ownership participate in Experian's Rental Exchange scheme.

This means your rent payment history can be recorded on your credit file. Paying on time can strengthen your credit profile and may improve your chances of securing future borrowing. Late or missed payments may negatively impact your credit report.

For many co-owners, this provides an additional financial benefit beyond simply maintaining their home.

Leaving Co-Ownership

If you sell your home or buy us out completely, any rent paid for the period after your completion date will be refunded to you. We will organise this refund automatically, and you do not need to contact us to request this.

Your solicitor will work with us to ensure the correct amounts are calculated and returned.