Rent increases

We know how worrying it can be when you receive a letter that tells you there’s going to be a rent increase. Especially when times are hard.

That’s why our CEO and Finance Director wanted to run a focus group. They wanted to explain why there are sometimes rent changes, but most importantly, hear your views on how this impacts you and how we might be able to help and support.

Feedback from the group was wide-ranging and it’s clear that people will be affected in different ways by any rent increase, especially when the cost of living is increasing for everyone.

The feedback we received: 

• That you understood why rents had to go up, especially considering the recent period of rent cuts.
• That we needed to be more empathic when customers do fall into arrears.
• That you wanted to see tangible outcomes/improvements if the rent goes up.
• We should consider sending out communications before the official letter in February, so customers can budget for the increase.
• We should do more to help those who aren’t expecting an increase in their earnings and are only just managing to pay their current outgoings.

So, what we did ...

We carefully considered all feedback, along with our financial position and our desire to improve the quality and safety of existing homes and to build new ones. After a long discussion, we have decided to follow the Government’s guidance and increase rents by 4.1% from April 2022.  This is based on the national rent formula of the September inflation rate plus 1%. However, we have put some other measures in place to help prepare and support our customers throughout this process.

This includes:

• Creating a budget to help those who really need additional assistance.
• Letting all of our customers know about the rent increase sooner than we would normally.
• Supporting our customers on very low incomes and working closely with the job centre.
• Supporting our customers to ensure they are receiving all the benefits and support funds they are entitled to.
• Providing individual support and guidance to customers who are struggling or are in rent arrears.