Government announces rent settlement from 2020
The Department for Communities and Local Government (DCLG) revealed an anticipated settlement on rents for the period between 2020 and 2025 yesterday evening.
It follows prime minister Theresa May’s promise of “certainty on rents” in her closing conference speech earlier this week.
The DCLG statement said: “Under the proposal set out today, increases to social housing rents will be limited to the Consumer Price Index (CPI) plus 1% for five years from 2020. This will give social tenants, councils and housing associations the security and certainty they need.”
Sonia Furzland, our Director of Landlord services, said: "Yesterday's announcement on housing association rent formula offers much-needed certainty for the sector. Delivering value for money for our residents, using our income effectively to invest in their homes and building more new homes will be our clear priority."