We are currently working on the annual rent increase which will start from 5 April 2021.
When reviewing your annual rent, we are guided by the Government who determine the rules around rent setting each year. Government policy states that we may increase your current net rent for 2021 – 2022. Outlined below are details which will affect how much rent you pay depending on the type of property you live in.
- If you live in a General Needs, Independent Living or Shared Ownership (pre-stock transfer in December 2007) property, you will see a rent increase of September 2020 CPI (Consumer Price Index) + 1% (a total of 1.5%).
- If you live in a Market Rent property you will see an increase of September 2020 RPI (Retail Price Index) + 1% (a total of 2.1%).
- If you live in a RentPlus or Rent to Buy property you will see an increase of September 2020 CPI (Consumer Price Index) + 1% (a total of 1.5%).
- Depending on when you became a shared ownership customer after the stock transfer in December 2007, you will either have a September 2020 RPI (Retail Price Index) + 0.5% (a total of 1.63%) or a January RPI + 0.5% (this total figure will be announced in February).
- If you rent a garage from us, we’re currently reviewing the rent and you will be notified figures in February.
All rent increases, except RentPlus, will take place from 5 April 2021.
You will be receiving a letter in February 2021 with more information and specific figures depending on your tenure. The letter will also include some Frequently Asked Questions (FAQs) which should help explain in more detail the proposed changes and what this means for you.
Support charges for Independent Living customers
For those in Independent Living properties, there will also be a small increase in the support charges and lifeline charges from 5 April 2021. We have subsidised part of these charges since 2017, however, this year you will see an increase of CPI (Consumer Price Index) + 1%.
We’re here to help
We know times are difficult right now and that your circumstances may have changed or been impacted. If you need any support with paying your rent or any benefit advice, please do get in touch and we will be happy to assist. If you have any queries about this change, or have any problems paying your rent, please contact us.