Annual rent increase
From 1 April 2024, we’ll be increasing the rent we charge our customers.
This year, the rent for social and affordable rent customers will increase by 7.7%. This increase is set by government policy which allows social housing rent to be increased by an amount equivalent to the Consumer Price Index (CPI) plus 1%. If you are one of our social or affordable rent customers, read our social and affordable rent customer FAQs by clicking the button below.
Read the rent increase FAQs for social and affordable customers [pdf] 73KB
This year, the rent for shared ownership customers will increase by 9.4%. This increase is set by government policy which allows shared ownership rents to increase by an amount equivalent to the Retail Price Index (RPI) + 0.5%. This is also included in the terms of your lease. If you are one of our shared ownership customers, read our shared ownership customer FAQs by clicking the button below.
Read the rent increase FAQs for shared ownership customers [pdf] 115KB
We’re here to help
We understand that any increase in rent is worrying, but we want to reassure you that we have lots of support available. Customers can find more information in the letter we sent recently, which sets out the new rent and other charges. Financial support information is available for anyone to access here. It’s got loads of help and advice on everything from food-saving schemes to your energy bills.
We understand that some shared ownership customers might also be coming out of their fixed-term mortgage rates this year and potentially facing an increase in cost in these payments too. Whilst we can’t provide information about mortgage support, it’s really important that you contact your lender if you’re experiencing difficulties in paying your mortgage or are worried about the impact an increased rate will have. Each lender will have their own support service, so please don’t wait to get in touch with them.
Investing in what matters to our customers
The Abri group is a not-for-profit organisation. This means that we don’t make a profit from rent payments. We use money from rent to invest in the things that our customers have told us are most important. This includes delivering and improving our services, maintaining customers’ homes and building new homes to create communities where people can grow and thrive.
For example, we’re investing £689 million in our existing homes over the next ten years to improve building safety and to make them more energy efficient. We’re also planning to build 10,000 new homes by 2030.