Published 5th March 2020
Rents for 2020/21 are changing
Annual rent charge from 6th April 2020
Rental payments are our main source of income. The money received from rent allows us to provide a range of housing services and to maintain and improve your homes.
After a 4-year period of rent reductions, from April 2020 your rent will increase in line with Government guidance.
We fully understand that any increase to your rent will not be good news. However, as you may be aware, the Government introduced a policy of rent reductions of 1% each year for 4 years from April 2016 and this will come to an end in March 2020.
What does this mean for me?
We are committed to holding your rent at an affordable level and no rent will increase by a maximum of 2.7% which is a £2.70 per week increase.
Here are some examples of the impact of the increase:
A current rent of £75 a week increase to £77.03 a week)
A current rent of £90 a week will increase to £92.43 a week)
A current rent of £100 a week will increase to £102.70 a week)
By increasing rents, we can ensure that we can continue to maintain your property to a decent standard and provide good customer service. The 4-year rent reductions have meant a reduction in our income and whilst we have found efficiency savings in number of areas, the costs of maintaining properties continues to increase.
Service charges are the costs involved in providing a service to a property, or scheme, such as caretaking, lift maintenance, gardening of communal areas etc. Services charges, are calculated separately and if you pay service charges notification will accompany the rent statements.
We will let you know individually by the end of February how the changes will affect the amount of rent you will pay, in your annual rent statement.
If you would like to any more information please contact firstname.lastname@example.org or call 0151 647 5471