As a mutual, our aim is to set rents that are fair and affordable.
The Democratic Body, which is made up of tenants and employees, have recommended that our Living Rent will increase by 1.5% in line with Welsh Government advice. This increase will apply to most properties.
There are a few exceptions where rents will be adjusted by a higher or lower amount depending on how far away the rent is from our agreed ‘Living Rent’ for each property type.
- Over 3500 rents have been increased by 1.5% i.e. this year’s basic rent plus 1.5%
- A small number of rents have been frozen i.e. tenants will pay the same basic rent from April as they currently pay – this is because their current rent is above the living rent
- A small number of tenants will have a small rent increase i.e. below 1.5% – this is because we want to move their rent to living rent, not above it.
- Around 350 tenants will have a rent increase of 1.5% plus 30p – this is because their rent is more than £15 below the living rent for their property type and we want to move them towards living rent more quickly.