Rent Setting
We know times for some are tough, with other rising costs in everyday essentials such as energy, fuel and food. As a not-for-profit organisation, no shareholders benefit from our work and our primary income comes from rents. Our priority is to invest in homes and continue improving our services.
In 2023-2024, we completed over 13,000 repairs and invested more than £10m in our 3,900 homes that we own. We also face rising costs for materials and running services due to the increases in inflation. As the cost of delivering our services has risen, we need to raise rents by the allowed percentage, as per the current Rent Standard. We use the increase to fund repairs and improvements, including a focus on damp and mould and continue to provide a hardship fund for those who need it most.
How your rent is calculated
Your rent is charged in line with the Rent Standard. For social rent properties, this is based on historic property values and the number of bedrooms. Affordable rent properties are based on 80% of the market rental value. These values are used along with Government guidance to set the new increase each April.
How your service charge is calculated
Service charges are calculated to cover the costs of providing services to you. We only charge you for services you receive, and we do not make any profit from these charges. Visit our Service Charges page for more information.
Key dates each year:
- Late February: Rent and Service Charge letters sent to Tenants and most Shared Owners
- 1st Monday in April: Charges apply for weekly rent and service charges
- 1st April: Charges apply for monthly rent and service charges
- Late May: Ground Rent and Service Charge invoices sent to Leaseholders and Freeholders
- Late August: Rent and Service Charge letters sent to any Shared Owners with the rent period from October to September
- Late September: Service Charge Reconciliation Letters sent to Leaseholders and Shared Owners
- 1st October: Charges apply for monthly rent and services charges for any Shared Owners with the rent period from October to September.