Rent reviews explained - what does it mean for me?

Rent reviews explained - what does it mean for me?

Why are rents increasing?

There will be a 1.5% increase in your rent from April 2021. Prior to last year, most of our customers have not had a rent increase for the last four years; our decision to increase rents now reflects current government policy allowing housing associations to increase their rents by CPI*+1% to help us improve our homes/communities and provide better services to you. 

N.B. The vast majority of housing associations throughout the country will also be increasing their rents by CPI*+1% this year. 

 

Where will we spend this additional money?
Providing our customers with value for money is of utmost importance to us and the increase in rent will be invested in our homes and services.

  • In 2019/20 we will spend over £1 million on improvements to our existing homes and another £1 million in 2020/21
  • We’re working to improve the energy efficiency, warmth and sustainability of all our homes over the next ten years
  • We are building new, affordable homes to help address the housing crisis in Yorkshire

What do you need to do?
All customers will receive an individual letter and information leaflet through the post by the end of February. This will explain what your new monthly charge will be and any action you need to take.

- If you receive Universal Credit, you will need to tell the DWP about the change in amount after the 1st April.

- If you receive Housing Benefit, you will need to tell your local council.

- If you pay us by direct debit the amount will automatically be amended. However, if you pay by any other method you will need to change the amount yourself or better still set up a direct debit. This is very easy to do, just click on this link: Pay by direct debit

 

If you have any questions about this, please call us on Tel: 0113 278 3335 or Email: info@lyha.co.uk. Alternatively you can contact your Income Officer direct: either katy.horrigan@lyha.co.uk or chris.radcliffe@lyha.co.uk

 

*CPI (Consumer Price Index) is a measure of 'the rate at which the prices of goods and services bought by households rise and fall' (ONS - Office for National Statistics)