Rent Changes from April 2020
From April 2020, all social housing and affordable rents will be increased by CPI +1%.
Social Housing and Affordable Rents
Between April 2016 and April 2019, all social housing rents have received a -1% reduction. From April 2020 a new social housing Rent Standard will come in to effect.
The new social housing Rent Standard centers around a formula created by the Government and is designed to make sure that the rents set by social landlords are set fairly and consistently.
The new social housing Rent Standard defines to social landlords how their rents should be set and increased. The Rent Standard centres around a formula created by the Government and makes sure that the rents set by social landlords are set fairly and consistently
The formula (CPI + 1%) uses the inflation rate from the previous September which was 1.7%.
The majority of our rents will therefore be increasing by 2.7% from the 06 April 2020.
A very small number of tenants will have ‘secure’ or ‘fair rent’ tenancies. For these tenants the rent is set by the Independent Rent Service every two years.
Intermediate and Market Rents
If you live in a property that is deemed as Intermediate Rent, where rents are set at 80% of the market value, or a Market Rent, where rents are set at the market value, your rent will be re-based from April 2020 on a new market value.
You will receive formal notice of your rent increase with your new charges at least one month before the start of the new charges.
FAQ’s & Booklet
* CPI is the Consumer Price Index as at September 2019 which was 1.7%.