Rent increase information
Rent paid to Red Kite is used to manage, maintain and improve our homes and communities and we want to make sure that we do the best for you as tenants so you can enjoy living comfortably and safely in homes that are suitable for your needs.
As detailed in our five year rent guarantee promise that was made to all of our tenants in December last year, we said that rent would not go up in each of the first five years after transfer from Wycombe District Council to Red Kite by more than the rate of inflation, plus 0.5%, plus no more than £2 per week.
In line with national guidance for social housing rent increases, from 2nd April 2012 we will be using the rate of inflation from September 2011, as this is the date government requires us to use, adding 0.5% and up to £2 per week, depending on whether you are at the target rent for your property or not. Those of you who are already at the target rent will have a 6.1% increase applied. Service charges will also be increased by the same amount.
You will be getting a letter in the post this week (20 February) detailing the increase and you should note that:
- Our rent increase is exactly the same as the Council would have applied had it retained the stock, as it would have applied the same formula increase
- Housing benefit entitlement will be unaffected and Red Kite cannot make a profit from service charges
- We have set up a direct contact line for questions about rent increases – call 01494 476165
- The Council’s Housing Benefit team can be contacted directly on 01494 421325 for advice
- Tenants and leaseholders are encouraged to pay using Direct Debit
- Payments cards continue and all current payment methods still apply.
For your information, target rent is a government set formula, based on the value of the property, the size of the property and average earnings in the area, so that housing association and local authority tenants will whenthey reach the target rent, pay a similar amount of rent for similar properties