Don’t worry we won’t send you spam or share your email address with anyone. Starting point for rents is “2020 limit” = average weekly rent for a unit in final year of rent reduction plus (upto) CPI + 1%. Exceptions: the same exceptions apply as under the old Rent Standard and under rent reduction (LCHO, IMR, temporary social housing, student, specialised supported, PFI, care homes etc). IT’S THE LAW: Tenancy types and what they mean, Social Housing: 10 Challenges Facing Registered Providers, The Mortgagee Protection Clause Explained. A ‘bedroom weighting’ factor was also applied to try and ensure the resulting rents better reflected the perceived val… Guidance on rents for social housing. PDF, 123KB, 20 pages. Re-lets of social rent at formula rent plus flexibility. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. In October 2013 the government published a consultation paper on rents for social housing from 2015/16. We group our work into Strengths – just click on a Strength to your right to find out more: Devonshires has a reputation for providing high quality legal services to a diverse range of client sectors. You can change your cookie settings at any time. This guidance sets out the government’s policy on rents for social housing from April 2015 onwards. It will take only 2 minutes to fill in. In an England-based study, the Chartered Institute of Housing recommended the adoption of a common definition for social housing, the increase in the supply of affordable housing and to link … Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Reasonable rents are set by a reference to a formula.The aim of the formula-based approach is to ensure that similar rents are paid for similar prope… on Rents for social housing from 2015 to 2016 consultation was published in October 2013 with a summary of responses published in May 2014. Calculation of formula rents unchanged; rent caps continue with CPI + 1.5% annual uplift. A rent formula was established with actual rents moving towards a national formula rent which took account of values of properties and local earnings relative to national earnings. Guidance on Tenant Rights for Page 2 of 2 December 2017 Supportive Housing Units with No Rent Subsidies • Utility allowance = $20 • Owner may charge the tenant $110 per month in rent because the current Supportive Housing … 10% tolerance for supported housing continues. Please enable Strictly Necessary Cookies first so that we can save your preferences! We use this information to make the website work as well as possible and improve government services. We use cookies to collect information about how you use GOV.UK. This guidance sets out the government’s policy on rents for social housing from April 2015 onwards. The current formula is devised on the basis that social rents take account of: 1. the condition and location of a property 2. local earnings 3. number of bedrooms in a property. You can find out more about which cookies we are using or switch them off in settings. Social rent levels are set by a reference to a formula.The aim of the formula-based approach is to ensure that similar rents are paid for similar properties. Can rebase affordable rents on renewal of fixed term tenancy but capped at CPI + 1% on existing rent. 2. Guidance and directives from state and local officials and state and localexternal iconhealth departments. Rachel Orgill-Harris, Solicitor in our Banking, Governance & Corporate team features in @HousingMagazine. Similar wording was previously used in the guidance on rents for social housing that was issued by the Department in 2014. If you disable this cookie, we will not be able to save your preferences. 5% flexibility on formula rents restored (having been removed under rent reduction). 2016/17 rent data was taken from the latest Homes and Communities Agency dataset of all private registered providers of social housing in England, released on 24 October 2017.The dataset has monthly rents for all property types from private registered providers of social housing … How additional information will be shared, and where to direct questions. This website uses cookies so that we can provide you with the best user experience possible. That limit is the Retail Price Index (RPI) + 0.5%. We also have an office in Leeds and a satellite office in Colchester. Ref: ISBN 9781409842026 Our main base is in central London, near to Liverpool Street Station. Banking, Capital Markets & Property Charging, Your Quick Guide to the Rents for Social Housing from 2020-21 Consultation, Devonshires advise Riverside on £150m private bond issue with international investor, Devonshires awarded with Banking & Finance Law award at the Yorkshire Legal Awards, Devonshires advise Vale of Aylesbury Housing Trust on Group Refinancing, Devonshires act for Pobl Group Limited on their group reorganisation. Tenancy is likely to be a regulated tenancy switch them off in settings, only voluntary have not rent... Information to make the website work as well as possible and improve services. Based on a formula set by the regulator of social rent at formula rent plus flexibility ) = > capped... To a new direction to the exception for IMR extending it to keyworker IMR generally without any conditions... Improve our website before 15 January 1989, the tenancy is likely to be used in a balanced... 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