Over the last four years the cost of providing services and maintaining our homes has continued to rise whilst the rents we charge have been reducing.
The way that Housing Associations set their rents* is determined by Government regulation. For the last four years, TCH, like all other housing associations, has been required to reduce rents by 1% a year. This is changing.
The government’s 2020 Rent Standard, which guides how rents will be set for the five years from April 2020, says that Housing Associations can now increase social and affordable housing rents by a maximum of inflation plus 1% (the inflation measure used is the September Consumer Prices Index which was 1.7% at 30 September 2019).
Therefore, the proposed rent increase in April 2020 is 2.7%.
Implementing the rent increase will allow us to:
- Continue to provide and improve the services we deliver to our tenants
- Continue to invest in maintaining and improving our homes through day-to-day repairs and planned maintenance programmes
- Build more homes for people in housing need
In February 2020 you will receive the usual written notice of the April rent change, but we wanted to tell you about the changes, and reasons for them, in advance.
If you have any questions or comments, please contact us at firstname.lastname@example.org