Rent increase 2024-25

Posted on the 29th May 2024

This year we will be increasing rents across all our rented homes in line with the government formula. Read on to find more information about this and how to get in touch with us if you have any questions or need support.

What is the increase and why?

This year there will be a 7.7% increase.

We know that any rent increase will not be welcome. But like other housing associations, our operating costs have increased significantly. So that we can continue to provide quality services and invest in good quality homes, the board has taken the difficult decision to make this increase. Government rules set a cap on the level of increase, linked to the level of inflation (Consumer Price Index). This year the increase is above current inflation but last year it was below, so the real cost evens out over time. We wanted to let you know well in advance so that you can prepare now for the increase.

What about service charges?

We will write to you before the increase is due to let you know what your new rent will be. At this early stage, we do not have the finalised service charges to share but they will be included in your rent increase letter.

Benefits

If you are in receipt of Housing Benefit or the Universal Credit Housing Element, then rent increases wouldn’t normally (subject to under- occupancy charge – ‘bedroom tax’ and non-dependant deductions) make any difference to you because these benefits will pay the full rent in Social Housing and payments will increase in line with the rent charges. You will need to inform the relevant benefit department of the changes to your weekly rent.

How your rent is spent

This past financial year, we spent more than a third of the rental income on repairs and maintenance, and over another third on planned investment, with these costs still increasing.

• Investment in homes – including spend on new kitchens, bathrooms, heating and windows
• Routine maintenance – day-to-day repairs
• Housing Management – landlord services including your housing officer, customer services, and rent income staff
• Interest payable – the costs to Keniston for loans that support investment
• Other expenses – funding local improvements g. Better Homes. Better Neighbourhoods fund

What if I can’t afford my rent increase?

Our priority is to support residents to keep their homes and we want to help prevent rent arrears as much as possible. Our Rent Income Officers are trained to ensure you get the most out of your income and benefits, and support you through any changes in circumstances. Please get in touch with your Rent Income Officer as early as possible if you need help to pay your rent. Alternatively, there is advice and support available from your local Citizens Advice Bureau or StepChange.

Jan Lewis – janlewis@kenistonha.co.uk (Bromley borough)

Natalie Marchant – nataliemarchant@kenistonha.co.uk (All other areas)

What about the cost of living crisis?

Keniston aims to keep rents affordable for all residents. Rents are only increased by the amount needed to maintain services and to invest in your homes to keep them in good condition. Many people continue to have to make difficult choices about buying food and heating their homes as costs of food, energy and general living remain high. Our Rent Income Officers can check your situation and see if you are getting everything you are entitled to.

Links to further information

Rent standard for registered providers of social housing https://www.gov.uk/government/collections/rent-standard-and- guidance

StepChange – Debt Charity https://www.stepchange.org/

0800 138 1111 Monday to Friday 8am to 8pm and Saturday 9am to 2pm

Citizens Advice Bureau https://www.citizensadvice.org.uk/ Adviceline (England): 0800 144 8848