In 2016 the Government introduced a new rent setting formula for Housing Associations such as KHT to decrease the rents charged on social housing properties by 1% each year between April 2016 and March 2020.
The reduction applies to social rents and affordable rents, but does not apply to market rents or shared ownership rents.
At KHT we applied the 1% rent reduction in April 2016, and we will apply the reduction again for the year April 2017 to March 2018.
This decrease applies to rent only. If your home has a service charge, the service charge element will increase by 2% in line with the Government’s formula for setting social housing rents. To find out more about the change and how it will affect you, call us on: