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Newlon Housing Trust

Rent increase April 2024

Update on rent increases for 2024-2025

Each year we review our residents’ rent. The amount we can increase rent by to cover increases in our running costs follows a formula set by the Government.

For residents in social rent homes this is based on September CPI plus up to an additional 1%. CPI is the Consumer Price Index, a commonly used measure of inflation.

For most residents in intermediate rent homes we follow the same formula as for social rent housing.

For the majority of Shared Owners we use a formula based on RPI plus 0.5%, often based on September RPI but in some cases this varies according to the lease. RPI is the Retail Price Index, the other most commonly used measure of inflation.

Why do we need to increase rents?

As a not-for-profit, charitable housing association, any money we collect from rents is invested in maintaining our current homes or providing much needed new affordable housing.

Our costs are increasing at a significantly higher rate than inflation, especially for core services such as providing repairs and maintenance, building materials and service contracts. This means we need to increase rents to continue to safely provide key services, improve the homes we manage, invest in critical fire safety works, build new affordable homes and support our local communities. 

Service charges

We are also working very hard to minimise the effect of the service charge review for next year. This includes working in partnership with resident associations to look at all aspects of service delivery, and other ways we can reduce, where applicable, service charge costs. Nevertheless there are likely to be increases in some areas within service charges due to increased contract costs, higher minimum wage payments and increases in building insurance, where the costs for cover have also increased.

Help and support if you are struggling to pay your rent or service charges

We know that many people are facing financial difficulties at the moment because of rising prices and energy bills.

If you are struggling to pay your rent or service charges please contact us as soon as possible so we can agree a payment plan.

The sooner you contact us if you are struggling the easier it will be for us to help you. Please contact us on 020 7613 8080 or 0800 316 7989. You can also email income@newlon.org.uk or arrange to come into to our office by appointment to discuss your circumstances.

Newlon has signed up to the National Housing Federation’s pledge that no one will be evicted as a result of financial hardship, provided they contact us to arrange to get their payments back on track. 

We will work with any residents struggling to pay their rent to set up manageable repayment arrangements where needed. 

Other help and support available

To find out about the help and support that is available from the Government and from your local authority, please visit www.newlon.org.uk/cost-of-living-support.

For help and support from Newlon, please email financialinclusion@newlon.org.uk. The team can offer support and help to individuals, couples and households struggling to pay for food, fuel and other essential items of furniture and equipment. They can also provide guidance for problem debt and help with benefit claims.