THE Regulator of Social Housing (RSH) has issued its guideline for a rent increase of 7.7 per cent from April 2024. The guideline is calculated on September’s Consumer Price Index of 6.7 per cent plus 1 per cent to reach the 7.7 per cent.
Rent increase letters for those tenants who have a rent review in April will be sent out in mid-February. Those who have rent increases in November 2024 and February 2025 will also have the 7.7 per cent rise and will receive their letters one month before the rise takes effect. Fair rent tenants have their review in June 2024 and will receive a letter in May detailing it.
Chief Executive Steve Warran said: “We make every effort to keep our rents as fair as possible, which is why we stick to the RSH guidelines. Our rents are still far, far cheaper than private rents, where people can be paying three times as much.
“On top of that we will maintain the excellent customer service and speedy response over repairs and maintenance that has earned us 95 per cent ratings in our satisfaction surveys.”
Shared owners will also have a rent increase this year of CPI plus 1 per cent instead of their usual Retail Price Index plus 0.5 per cent (which is higher). They will receive a letter in February explaining this.
Service charge statements will also be enclosed within the rent increase notification letters.
Operations Manager Belinda Eastland said: “It is important to note that the financial year of April 1, 2024, to March 31, 2025, contains 53 Mondays and, as tenants’ weekly rent is calculated from a Monday, there will be 53 rent weeks during 2024/2025 for all tenants on a weekly tenancy.
“This means tenants will need to plan their payments through the year so that they do not go in to arrears at week 53.”
She added that tenants who receive Universal Credit should remember that Universal Credit will only pay 52 weeks rent. “So even those who do not usually make any payments will need to make a one off payment – or divide the amount over a number of payments, to cover this additional week,” she said.
“Anyone with concerns about making their rent payments should contact Housing Officer Ann Norvill or Housing Assistant Tracy Crook as soon as possible. There is a lot of help and advice we can provide during these difficult times.”
Tenants with concerns can call on 01380 850916 during office hours or email email@example.com.