Your rent amount
All housing associations are expected to set their rents in the same way, using a Government formula called the ‘target rent’.
All rents charged by housing associations and local authorities should be the same for one type of property in a particular area.
The formula is based on:
- The number of bedrooms
- Property values
- Average annual earnings in each area of the country.
Where does my rent go?
Your rent is used in the following ways:
- To pay for repairs and maintenance
- To manage your housing service
- To repay money borrowed to build or modernise your home.