Rent change information
Your rent will be increasing from April 2023. You should have received, or will shortly receive, a letter through the post with more information.
How much will the increase be?
We will be increasing the majority of rents by 7% from 3 April 2023. Your letter will confirm how much you need to pay from that date.
Why is there a rent increase?
Every year we review our rents in line with rules set by the government and enforced by the Regulator of Social Housing’s Rent Standard. This means rents were set to rise by the Consumer Price Index (CPI) plus 1%. This would have meant a rent increase of 11.1%.
To protect residents from the cost-of-living pressures, the government decided that rents for most housing association rented homes, including Paradigm’s, could only be increased by a maximum of 7%.
What is the Consumer Price Index?
It is a price index which tracks the prices of a set of consumer goods and services which provides a measure of inflation across the UK.
How does Paradigm spend the money it gets from rent?
The money we collect in rent is used to make sure our homes are safe and sustainable and kept in good repair, as well as fulfilling our mission to build new homes to help more people.
As a not-for-profit organisation, we have had to strike a balance between limiting rent increases and maintaining our ability to deliver services and invest in new homes, at a time when we are also experiencing very high levels of inflation.
I claim Housing Benefit or Universal Credit. Is there anything I need to do?
If you claim Universal Credit
You must report this change to the DWP by completing the ‘confirming your housing costs’ to do notification on your Universal Credit journal.
Please do this on or after 3 April 2023. Do not report this change beforehand as your claim may not be updated.
If you claim Housing Benefit
You must report this change to your local council by providing a copy of your rent increase letter to the Housing Benefit department.
If you live in the former Chiltern District Council area you will have to do this for the first time. There will be more details in your letter.
Will the cost of my service charge change too?
For most customers, your service charge amount will change in July and will also show an increase. You will get at least four weeks’ notice of the change.
Former One Housing and Guinness Partnership customers will receive their service charge notification at the same time as their rent letters in March.
What if I have difficulty paying my rent?
We know this is a difficult time for many people and you may be having financial problems. If you’re struggling to pay your rent, contact us immediately on 0300 303 1010.
It’s important to let us know as soon as possible to stop debts building up that will be difficult to repay.
We have a dedicated team of staff who can help. We can help with things like:
- Setting up payment plans, where appropriate
- Signposting you to support services
- Making sure you are claiming all the benefits you are entitled to.
You can find more information on the Support Hub on this website.
What if I am on Affordable Rent?
If you are on Affordable Rent you are paying up to 80% of the local market rent levels and this includes service charges. This means that your total rent, including any service charges, will be capped at an increase of 7% for this year.
If you’re a Shared Owner looking for information about changes to your rent, you can find it here.