In this financial year there are 53 Mondays.
If your rent is charged weekly that means there are 53 weekly rent amounts on your account.
This is because in most years you will be charged for 52 weeks, which are 364 days rather than the full 365. Therefore every five or six years there is a 53 week financial year to account for this additional day plus any leap days.
Take a look at the guide below to see what you might need to do.
If your rent is charged monthly then you won't see any difference in the payments you need to make because the extra week is taken into account when rents are calculated.
What does this mean for my rent payments?
If you pay your rent monthly
To work out what to pay each month, take your weekly rent and multiply it by 53, then divide the total by 12.
For example, if your rent is £105.00 per week:
- £105.00 x 53 weeks = £5,565 due for the year
- £5,565 ÷ 12 months = £463.75 per month.
Login to My Coastline to check how much your weekly rent is or refer to the rent letter you received at the end of February.
If you haven’t already been making payments to take into account the 53rd week then you may need to make additional or increased payments to ensure you aren’t in arrears at the end of the financial year. Please feel free to contact the Income Management Team at income@coastlinehousing.co.uk to discuss your payments.
If you pay your rent weekly
You won't notice any change - pay your weekly rental amounts as usual. You can login to My Coastline to check how much your weekly rent is or refer to the rent letter you received at the end of February.
What happens if I claim Universal Credit?
If you receive Universal Credit, your entitlement will be calculated based on 52 weeks. That means when there are 53 Mondays in a financial year you will be underpaid by Universal Credit and need to pay for the 53rd week yourself.
What happens if I pay by Direct Debit?
If you pay monthly by Direct Debit, we calculate your monthly payments for you to ensure that the 53rd week is spread across the whole of the financial year.
What if I claim Housing Benefit?
If you claim Housing Benefit they will calculate your Housing Benefit entitlement by taking into account the 53rd week, so you won't need to pay anything extra for this week.
What if I need help with my finances?
Visit the financial support section of our website. This area is regularly updated to highlight the support that we can offer, as well as the support that is available from other organisations in your local community.
You can also get in touch with our Income Management Team who will be happy to have a chat about your finances, rent payments and provide guidance and support. Email them at income@coastlinehousing.co.uk.