How we calculate your rent

The amount of rent you pay depends on the type of agreement you have. Here’s a simple guide to help you understand how it works:
  
Affordable Rent Tenancy

  • Your rent is set at 80% of the average market rent in your area

  • This includes any service charges

  • We look at similar private rented homes nearby and work out the average rent, then reduce it to 80%

 

Assured Rent Tenancy 

  • Your rent is worked out using a government formula

  • It looks at things like the value and size of your home

  • Once the rent is set, we may add up to:

    • 5% more for general needs homes

    • 10% more for supported housing

  • This extra amount helps us improve homes, build new ones and support communities

If your home has service charges, these will be listed in your tenancy agreement along with your rent.

 

Shared Ownership Agreement (Lease) 

  • You pay rent on the part of the home you don’t own

  • Here’s an example:

You buy a home worth £250,000 and purchase a 50% share

That means you own £125,000 of the home

You pay rent on the other £125,000

If rent is set at 3%, you would pay £3,750 a year

That’s £312.50 each month

If you have any questions about how we work out your rent — please get in touch.