Your Rent and Money Matters
The amount of rent you pay the Association has to cover the cost of:-
● The day to day management of your home.
● Repairs and Maintenance.
● Repayment of money borrowed to improve and build new houses.
How is your rent set?
We aim to set rents at levels that are:
AFFORDABLE – that tenants in low paid employment can afford to pay, without claiming Housing Benefit.
VIABLE – That will provide enough income to meet our expenditure now and into the future.
COMPARABLE – that are similar to rents charged by other non-profit making local landlords for similar properties.
● If you have been a tenant of the Association since before 1
January1989 your rent will be set by the Rent Officer and the
Association has no direct control over the level of increase unless you transfer by choice to another of the Association’s properties.
● If you have transferred to the Association from another landlord as part of a stock transfer then any rent increases may have been agreed as part of the transfer.
● If you have been a tenant of the Association after 1989 your rent will be set by the Association and increased on an annual basis. The amount of increase will be determined by applying a formula after considering the financial viability of the Association, the costs of managing and maintaining our houses, the sums that require to be set aside for future maintenance and then affordability of the rents to our tenants.
The amount of rent you pay the Association has to cover the cost of:-
● The day to day management of your home.
● Repairs and Maintenance.
● Repayment of money borrowed to improve and build new houses.
How is your rent set?
We aim to set rents at levels that are:
AFFORDABLE – that tenants in low paid employment can afford to pay, without claiming Housing Benefit.
VIABLE – That will provide enough income to meet our expenditure now and into the future.
COMPARABLE – that are similar to rents charged by other non-profit making local landlords for similar properties.
● If you have been a tenant of the Association since before 1
January1989 your rent will be set by the Rent Officer and the
Association has no direct control over the level of increase unless you transfer by choice to another of the Association’s properties.
● If you have transferred to the Association from another landlord as part of a stock transfer then any rent increases may have been agreed as part of the transfer.
● If you have been a tenant of the Association after 1989 your rent will be set by the Association and increased on an annual basis. The amount of increase will be determined by applying a formula after considering the financial viability of the Association, the costs of managing and maintaining our houses, the sums that require to be set aside for future maintenance and then affordability of the rents to our tenants.
