To ensure that we continue to deliver our Business Plan objectives, the extensive investment programme and services detailed throughout this booklet, we propose to apply an annual rent increase of inflation (based on the Consumer Price Index (CPI)) plus 0.5%.
The Management Committee had previously agreed that we would use September’s CPI figure as the basis of our rent increase deliberations, however this figure will not be released until October 2019 and the Association has agreed, in order to consult with our tenants in a clear and transparent manner, we will apply the August CPI instead. The August CPI figure, released on 18th September, is 1.7%.
Therefore the proposed annual rent increase for 2020 is 2.2%, which works out at £1.93 on an average weekly rent. This represents a lower rent increase than during the previous three years.
Download our Rent Consultation Booklet for more information about proposed rent increase by clicking here.