Rent increase from April 2023
Letters will land with customers from 23 February 2023
All customers who have an April rent change will receive a letter in the next few days detailing exactly what their new charges will be.
Every year, social landlords like NCHA increase rents broadly by the same amount as the rate of Consumer Price Inflation (CPI) + 1%, as this allows us to continue to deliver our services. Because CPI is so high at the moment (rising by 10.1% in the 12 months to January 2023), the Government decided to ease the financial pressures on some renters and shared owners as detailed below:
Most customers – In most years we increase rents broadly in line with inflation to ensure we can maintain our services at a consistent level. However, for most customers, the Government has capped increases this year at 7% – more than 3% below inflation – so that is the level we will apply. This applies to affordable and social housing customers and shared ownership customers.
Supported housing, market rent and Almshouses customers – For these customers, the Government did not cap rent increases, allowing social landlords to increase rents in line with inflation (currently 10.1%) plus one per cent (so effectively an 11.1% maximum increase) or in line with your tenancy/licence agreement. In most cases, that is the level of increase we have applied.
For customers who pay a service charge, water charge or resident charge these payments may also change. The amount of the change will vary for each customer based on the services you receive and the anticipated cost of those services.
We recognise that the cost of living crisis is affecting many people at the moment and this rent increase may be difficult for some. If you’re struggling to pay your rent we have trained advisors who can support you. Please contact us and we’ll refer you to the best person to help. The information on our money and benefits pages also offers advice on how you can save money and budget for your finances.
The increase in our rent will help ensure that we can continue to invest in our homes and services. We are a registered charitable social landlord, which means that the money we get from the rent you pay and the homes we sell is invested in:
- Improving our existing homes and services
- Building new homes for rent and shared ownership.
In 2021/22 we built 465 new homes, and on average we spent £1,237 per property on major or planned works. We improved our support for customers in financial difficulty, and those experiencing issues in their home or neighbourhood, including domestic abuse.
Read more about how we spend our income in our annual report.