In November 2023 we consulted with you on the affordability of our rents, value for money on our services and asked for your thoughts on what we should include in our rent policy.
Thank you to everyone who took the time to get involved, and we have also included an update on the rent consultation with your rent notice as we listened, and you helped inform our decision on rents. From 3rd April 2024 your rent will increase by 6.7%.
In order to decide how much rents need to increase by we consider all of the costs of providing services and repairs and maintenance to homes and we also complete a detailed assessment of the affordability of our rents for our tenants to understand which homes might be most affected by a rent increase.
We know that everyone is continuing to experience an increase in the cost of living, for example the cost of food, fuel, and utility bills and that the affordability of our rent is very important in the context of this.
Unfortunately, these cost increases also affect housing associations and the cost of delivering our services and maintaining our homes to the same level has also increased for example cost of materials and ensuring all our homes are well maintained and safe in line with existing and new legislation. Due to this, we have had to increase our rents for our homes from April 2024.
Most benefits and the state pensions will increase in April, but we appreciate many tenants will be concerned about how to afford their rent alongside other outgoings.
So, we have suite of support options available to you. Alongside advice and one to one assistance of our Payment Advice team and your Housing Officers.