Every April, rents change across the country. We set our rents using Government guidance and to calculate the increase, we use the September 2023 Consumer Price Index plus 1%. This means that rents usually go up by slightly more than the rate of inflation.
This year, for most of Great Places’ Neighbourhoods and Independence and Wellbeing customers, the increase will be 7.7%.
At the time customers receive their rent booklet, inflation may be lower than the level we use to calculate the rent increase. Based on Government guidance, we have to use the September 2023 Consumer Price Index to set our rents.
The cost of improving our customers’ homes and investing in communities has increased significantly and as a result we have taken the difficult decision to increase rents to cover the additional costs. We understand that some of our customers may be struggling with the increased cost of living, so please reach out to us if you need support.
This year, we’re planning to increase what we spend on our customers’ homes to improve energy efficiency to help reduce the cost of your bills, improve ventilation to prevent issues caused by excess moisture, replace old kitchens and bathrooms and carry out minor and major repairs.
You’ll get your rent booklet in February with everything you need to know about exactly how much you will pay along with any increase to your service charges if you pay one.
If you’re struggling to pay your rent, reach out to us and we’ll do what we can to support you. Check out our advice and tips on how to get the maximum amount of income you’re entitled to at:
