Changes to Rent and Service Charges - April 2024

We're making some changes 

From April, following careful planning, rent will increase for most MSV tenants.

Customers affected by the change will receive a leaflet along with a formal notification of their new rent which will be effective from 1st April 2024.

If you pay a service charge, you will also receive a summary schedule detailing the new charges and a breakdown.

We understand that changes like these can be unsettling and may raise concerns, especially in an already challenging financial climate. Therefore, we felt it's essential to communicate these changes well in advance, so you have ample time to prepare and plan your finances accordingly.

Why are rents and service charges increasing?

We want to keep rents as affordable as possible so our rents are set within a limit set by the government which allows for increases of inflation plus 1%.

You can read the government's Rent Standard and Guidance 2024 which establishes a limit on annual rent increases for social housing.

As such, rents for most of our customers will increase by 7.7% from 1st April 2024.

Here is an example of how the increase will affect your rent:

Our priorities have always been to maintain and improve existing homes and support customers and communities. These priorities are unchanged and, as a not-for-profit organisation, we reinvest all income generated through rent increases back into providing quality homes and services.

We're Here to Help

We understand this update may raise concerns, and we want to reassure you that we're here to help. If you are worried about the impact of these changes on your finances or if you have any queries about the new rent and service charges, we encourage you to reach out to our Customer Support Team.

We have a dedicated Money Management Team who can offer you free confidential advice and support.

We are committed to working with you to navigate this change.