News about your rent

Posted on the 23rd February 2022

You will receive a letter in the next couple of weeks telling you how much rent you will need to pay from April 2022.

This year, we will be increasing rent across all our rented homes. We understand that, combined with the rising cost of living and increase in energy costs, this could cause financial difficulties.

Paradigm, like other housing associations, sets its rents according to rules set by the Government.

How is my rent calculated? (rented housing)

For our rented housing, this means rents increase by the Consumer Price Index (CPI) as at September 2021 (which measures the rate of inflation) plus 1%. In recent years inflation has been low and so we have been able to keep increases low. However, inflation rose last year and in September 2021 the CPI figure was 3.1%. You rent will therefore increase by 3.1% plus 1%, a total of 4.1%.

How is my rent calculated? (shared ownership housing)

For our shared owners your rent increases, in accordance with Government guidelines, are based, in the majority of cases, on the Retail Price Index (RPI) for September plus 0.5%. In recent years inflation has been low and so we have been able to keep increases low. However, inflation rose last year and in September 2021 the RPI figure was 4.9%. Your rent will, therefore, increase by either RPI (4.9%), or RPI plus 0.5% (5.4%). To check which adjustment applies to you, please see your lease agreement.

Why is my rent going up?

We have to charge this rent so we can continue to provide services to our customers, improve and maintain our current homes and build homes for people who need them most. As a not-for-profit organisation, all the money we make goes into providing services and building new homes.

What should I do if I am worried about paying my rent?

Speak to us! We have a dedicated team who can help. Please contact us as soon as possible by ringing 0300 303 1010 or emailing enquiries@paradigmhousing.co.uk. We’ve also got lots of advice and information which will help you on the Support Hub on this website.

After you receive your letter, we will also be holding online meetings where you can speak to our team and we can help or signpost you to help with benefits and other support.

We have also set up two online sessions where you can speak to our specialist team and ask any questions. Although we won’t be able to discuss your personal circumstances, we will be able to offer general advice. They are on:

Monday 21 March at 1pm: If you would like to attend please enter https://bit.ly/paradigm34 into your web browser and register.

Wednesday 23 March at 6pm: If you would like to attend please enter https://bit.ly/paradigm42 into your web browser and register.

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