We calculate our assured rents using a format common amongst housing associations.
This formula looks at the value and size of the home and the average income of those living in the county.
As you will see in your tenancy agreement, we review rent charges every year.
To make sure any rent rises are affordable, the Government limits the amount they can be increased.
In any one year no rent will increase by more than the consumer Price Index, plus 1%.
For the next four years (from 2016), the Government has announced that social housing rents will decrease annually by 1%.
This doesn’t apply to ‘fair rent’ tenants who have been living in their homes since before 1989 unless their registered rent is higher than the assured rent levels.
These rents will continue to be set by the rent service and registered every two years.
If you rent one of our market rent properties your rent is reviewed every year by BVT and our letting agent.
Market rents are higher than assured or ‘fair rents’ and are determined by the average costs in the area.