Here is an example of an average rent increase:
2009/2010 weekly rent £76.00
RPI -0.9% -£0.68p
Add £2 per week (over 48 weeks) £2.17
Total new weekly rent £77.49
Total weekly increase on example £1.49
The Government was unhappy that tenants of housing associations and local authorities often paid very different amounts of rent for similar properties. They therefore decided to bring levels of rent much closer together for similar types of property - with these rents known as "target rents".
Target rents need to be reached for all properties by 2012, as required by the Government.
The Government's formula for reaching target rents is the one above used in the example. This formula was used by Fenland District Council before the transfer to Roddons in November 2007, and is now still being used by Roddons in the same way.
For further information please contact Roddons Customer Services Team on 01354 660789.
Benefit changes are coming in April 2013
Take a look at our energy saving videos. Lower your bills and help save the environment.