How we calculate your rent

The amount of rent you pay when your tenancy commences depends upon the agreement you are provided: 
  
Affordable rent tenancy agreement  
Your rent is calculated based on 80% of market rent, inclusive of any service charges.  The market rent figure is calculated based on private rented properties of a similar size in your area at the time of the relet and we calculate it down to 80% of the average value.

Assured rent tenancy agreement 
Your rent is calculated on a formula set out by government. It is based on factors such as property value and property size.  

Once the calculation is complete, we are allowed to uplift by a further 5% for general needs properties and 10% for supported housing properties. Applying this uplift allows us to improve our homes and services, build much needed new homes, and invest in communities. 

If there are any service charges connected to your property, these will also be listed on your tenancy agreement alongside the rent.

Shared Ownership agreement (lease) 
Your rent is calculated based upon a percentage of the full market value of the share you are not purchasing.  See the example below based on the full market value:

You purchase a property for £250,000 and buy a 50% share.   
The 50% share is worth £125,000. 
On 3% of 125,000, this would equate to a rent of £3,750 per annum or £312.50 per calendar month.