Rent increases 2023

 

All residents should have received information about rent increases. Here’s a quick guide.

Rents are increasing this year, alongside the cost of living increases we are all seeing with higher prices for gas, electric, food, fuel and more. We have put together some information that will hopefully answer some of your questions around why landlords are increasing their rents this year, and what you can do if you are having difficulty paying your rent.

How are the social and affordable rent increases worked out?

Whilst Berry Brook Homes is not a registered provider of housing we always endeavour to follow the standards set by the regulator. This year, in response to the cost of living crisis, the Regulator of Social Housing has set a ceiling for rent increases at 7%. This means that no residents will experience an increase of over 7%.

How will my rent be used by Berry Brook Homes?

The increase in rents will go some way to funding our repairs and maintenance schedule across all our homes. As with the cost of living, our annual bill for repairs and maintenance continues to grow. For residents living in affordable rent properties with communal areas, we have been advised of a 50% increase on our gas costs and 200% on electricity despite procuring the best rates possible. These charges may be included in your rent and as such the increase will help offset the costs.

As a For-Profit Local Housing Company which is owned by Wokingham Borough Council, any profits generated by Berry Brook Homes are reinvested back into the Council to fund other much needed services or future housing in the Borough.

I am worried that I can’t afford my rent – how can I access support?

We know that some of our residents may struggle to pay their rent, so we have put together an information sheet, How to Get Support in 2023, which gives information about local support services for people in financial need. You can download this HERE.