Changes to rent charges 2018/19
- Rent and service charge changes letters posted to arrive in late February 2018.
- New rent and service charge changes implemented from 1 April 2018.
You will receive a letter in February confirming what your rent will be from April 2018.
The government set out their budget on 8 July 2015 and as part of this it was announced that all rents paid in the social housing sector will be reduced by 1% a year for the next four years. The good news for residents is that for the third year running most rents will come down by 1% in April.
Your rent will be calculated based on your tenancy type as outlined below, but your letter will tell you more. There are also details in our frequently asked rent questions (FAQs).
Changes in rent by tenure
General needs: -1%
Tenancies where a social housing rent is charged on either an assured or assured shorthold tenancy (summer 2015 Budget announcements).
Affordable rent (ART): -1%
Tenancies created following the Welfare Reform Act 2012 where rents are set at up to 80% of the market value (summer 2015 Budget announcements).
Secure tenancies: -1%*
Tenancies that started before 15 January 1989 for single tenants and 10 December 1987 for shared owners.
*If you are a Secure tenant whose rent is below the “target rent” calculated by the Government in the Summer 2015 budget, your rent will not be subject to a rent reduction and may increase at a separate time.
Mortgage rescue: -1%
Tenancies where Hyde has purchased the properties and let them back to the original owner at an intermediate market rent (summer 2015 Budget announcements – part of a separate process).
Supported housing tenancies: -1%
Rented accommodation where there is an additional support need - for example, access to a warden or support worker (deferred 2016/17 but part of the 1% rent reduction from 2017/18 onwards).
Shared ownership: +3.9% + Lease
Tenancies where the customer owns a % of the property and pays rent on the remainder owned by Hyde (September 2017 RPI measure from ONS plus 0.5%, 1% or 2% dependent on lease).
Intermediate rent: Based on market review
Tenancies where rent is charged at 80% of market value (80% of market rent – calculated by Hyde New Homes – with increase capped to 20%).
Market rent: Based on market review
Tenancies where rent is charged at market value. (100% of market rent – calculated by Hyde New Homes with increase capped to 20%).
Garage rents are being increased, with a price cap dependent on the area, to bring charges in line with market rates.
Parking spaces, Licences, Allotments: +6.9%
September 2017 RPI measure from the ONS (3.9%) plus 3% to bring charges in line with market rates.
Changes to service charges
The February letter will also include your service charge details. Even if your rent decreases, your service charges might still increase. Read more about how service charges are calculated, and our frequently asked questions about rent.
If you have a specific rent query, email HydeRentLetters@hyde-housing.co.uk and we will reply within 48 working hours.
If you have a service charge query, email firstname.lastname@example.org .