How is the rent increase calculated?
Rents are set each year based on the Consumer Price Index figure in September, which was 1.7% in September 2024, plus 1%. Based on this, rents will increase by 2.7% for social, extra care and older persons properties, in line with the Government Rent Standard.
We have reached the decision to increase rents because it means that we can continue to invest in customers’ homes, our neighbourhoods and in improvements to our services. We believe in particular there is more investment needed to improve the standard of homes for the long term. We do recognise that the cost of living is a challenge and are here to help customers that might need extra support.