12

Nov

Rent Review 2022

We would like to hear your views on the proposed rent increase. The survey is available here

Every year, Castlehill’s Management Committee reviews rent levels and consults with all tenants on any proposed increase.  Information has been posted to all tenants to explain the options the Committee are considering, and to ask for your views.  You can also read that information here.

Following consultation with our tenants during the summer, we are also changing the way we calculate your rent, and the enclosed information explains what this means.

We want to keep rents affordable, and still deliver good quality services and improvements to your homes and neighbourhoods.   The essential costs to build, manage and maintain your homes are increasing with inflation and we need to make sure we can cover these costs while also making sure our rents remain affordable.  Rent is our main source of income. Our costs rise every year with inflation, and we don’t receive any subsidies towards operational costs from central or local government, so we need to make sure the rents we set allow us to keep delivering our services.  We use CPIH as a measure of inflation, and in September this year it was 2.9%, so we are consulting with our tenants on two options: 2.9% (CPIH), and 3.9% (CPIH + 1%).

The Management Committee wants to hear your views on the proposed increase, so please do complete the survey.  You need to do this by Friday 3rd December so that it can be shared with the Committee at its meeting.