From April 2022, rent increases will take place across the social housing sector. Following guidelines set through Government regulation, rent charges are calculated annually using a set formula that makes sure rent levels are capped and remain at an affordable level.
It combines a ‘cost of living’ increase, set using the Consumer Price Index (CPI) measure of inflation, which in September 2021 was 3.1%, plus an additional 1% (subject to your Tenancy Agreement).
Jigsaw Homes North will be applying this 4.1% increase to our rent charges to meet the increased costs of delivering services and maintaining homes. We will be writing to all our residents over the next couple of weeks, detailing what your increased rent will be, when it should take effect (in accordance to your tenancy agreement) and any steps that you need to take.
For more information on how our rents and service charges are calculated, please see here>>
We understand that any increase in rent may put households under extra pressure, particularly at a time when the cost of living is rising across many goods and services including energy.
Jigsaw’s dedicated Money Advice Team is on hand to help you through with free and confidential advice on benefit entitlement, budgeting, managing debt and extra financial support available.
Residents in receipt of Universal Credit and Housing Benefit should find that these will be increased to cover the new rent charges providing there are no changes to their personal circumstances.
Paul Chisnell, Executive Director of Finance at Jigsaw Homes Group said: “We always aim to keep rents as affordable as possible, but also need to balance this aim with the rising costs of repairing and maintaining our homes and other essential goods and services.
“We also know that with increases in living costs and the pressures caused by the global pandemic, many of our residents will find this a very difficult time, so we want to reassure them that help is available should they need it.”
As a not-for-profit organisation, any money made goes directly back into homes, ensuring they are safe and of good quality, as well as funding vital services and support for residents.
It will also be used to continue to improve the energy efficiency of homes and deliver much-needed new homes to tackle the lack of affordable housing.
If you want to find out more about how this rent increase may affect you, any steps you need to take and see where our money goes, please click here to view a set of FAQ’s we have pulled together to help>>
