The upfront and monthly costs you'll need to pay when renting your SO Flexi home

Upfront costs

Before you sign the paperwork for your SO Flexi Home, you’ll need to pay some upfront fees. These include:

  • A reservation fee of £250 You pay this after your financial assessment is successful, to secure the home you have chosen
  • Your deposit This is paid once successful references have been received. The deposit is equivalent to one month’s rent and is paid into a Deposit Protection Scheme
  • One month's rent You pay this when you sign your tenancy agreement and are preparing to move into your new home. The amount you pay will depend on your moving date. We will let you know how much this will be in advance.

Monthly costs

Once you have moved into your new SO Flexi home, you’ll need to pay your monthly rent on the date agreed within your tenancy. You are also responsible for the costs of running your home including utility bills, council tax and contents insurance.

Your future rent payments will be made by Direct Debit. Your tenancy agreement will be reviewed once a year.

Your rent increases every April

Rent increases are linked to inflation.

Your rent increases every April by the Consumer Price Index (CPI), plus a % specified in your tenancy agreement.

The rent increase happens regardless of when you started your tenancy. We will contact you before the increase telling you how much you will need to pay.