How we set your rent
The Government wants to make sure that council and housing association tenants pay similar rents if they live in similar properties in similar areas.
To achieve this, they have introduced target rents that all public sector landlords need to achieve by 2012.
The target rents were worked out using a formula that took into account:
- The location of the property.
- The value of the property.
- The number of bedrooms in the property.
- The average skilled manual worker's earnings in the Borough, compared to the national average earnings.
We had to compare the current rent of our properties with their respective 'target rents'. We have until 2012 to introduce any rent increases or decreases to meet target rents.