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Why do rents change every year?

Why do rents change every year?

Every year things tend to cost a bit more – inflation, materials going up in price, market prices going up, etc.

This means it costs us more to deliver the same services, which is why our charges typically go up as well. We don’t make a profit or pay dividends to shareholders. But we're a social business. Like other businesses we have to be financially responsible and cover our costs or (eventually), we’d be in trouble.

 

So how do we keep things affordable for our customers?

As we mentioned, we’re a social business, so making sure our customers can afford our services is very important. 

This year, when we calculated how much next year’s rents need to be, we applied a ‘Keeping things affordable’ cap. This means your service charges won’t go up by more than £3 per week.

If we worked out that your charges would have increased by more than £3, then we’ve taken off anything above that limit and B3Living has absorbed those costs.

 

How do we calculate rent?

The way we set your rent is decided by the Government, and it may depend on what type of tenancy you have. Generally, rents go up with inflation (Consumer Price Index, aka CPI).

This year, rents are increasing by CPI + 1%.

 

How do we calculate new service charges?

Every year, before March, we look at how much we’ve spent in the year just gone and plan for any major work that we know if coming up. This is what our new charges are based on. You can find out more about your charges here.

 

Do you have a query?

If you still have questions or think something doesn’t look right in your statement, get in touch using the form below and we’ll help. 

Got a question about your rent?

Click 'continue' to send your query in.