Based on your feedback as part of the rent consultation we held in December 2019, we are changing the way we calculate your rent. We are making this change so that the amount we charge you better reflects the size, type and age of the home you live in. We are calling this process a “Rent Restructure”.
We are spreading the increases and decreases in our charges over three years to ensure that everyone can manage the change. There will be changes to the amount you pay for your home related to the “Rent Restructure” on these dates:
- 6 April 2020
- 5 April 2021
- 7 April 2022
Every year we apply an Annual Rent increase; this is to cover the year on year increases in the cost of managing your tenancy and maintaining your home. On 6 April 2020 we will apply a 3.9% rent increase to all of our homes.
As both the Rent Restructure and Annual Rent increase are taking effect at the same time, this means that the amount you have to pay may increase or decrease as a combination of these two factors. We have provided three examples below for a small, medium and large home to demonstrate how we have calculated the 2020/21 rents. Details relating to your home will be sent out to you in a letter, at least four weeks before any change is made.