| The government decided that similar homes whether owned by the Council or a Housing Association, will have similar rents. This has to be achieved over ten years from April 2002 reaching the “target rent” by 2012.
The Government scheme is based on a “target rent” for each property. This is based on four factors;
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Average Local Authority rent nationally.
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Earnings in Suffolk compared with national average earnings.
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Number of bedrooms in the property.
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Value of the property compared with the national average value for Council housing.
The rent must reach the “target rent” over ten years. For some properties the target rent will be higher than the current rent and others it will be lower depending on the value of each property. The valuation has been carried out by an independent agent and based on 1999 figures. Therefore each April the rents will change to move towards the target rent plus the current rate of inflation.
If improvements are carried out to your property it may not alter the valuation figure but it will change if extra bedrooms are created by alterations to the existing property. i.e conversion of a garage into a bedroom. If you have any queries regarding the rent being charged please contact Customer Services on 01473 825798. |