Your rent explained - Broadland Housing Association

RentExplainedWe recognise that the level of rent charged byBroadland is one of the most important areas ofinterest to you.In order to make comparisons to the rents charged byother housing associations, the following table showshow our rents measure up on a local authority basis forthe year ended March 2008.

LocalAuthorityBrecklandBroadland 59.10 68.80 76.05Cotman 51.44 61.19 71.42Granta Hs 54.29 0.00 0.00Guinness Trust 0.00 0.00 80.94Hastoe 0.00 66.22 71.94Housing 21 0.00 75.06 82.16John Grooms 56.56 61.70 0.00Orbit Ha 54.73 64.86 66.75Orwell 0.00 68.83 0.00Peddars Way 56.40 65.94 70.67Sanctuary 53.18 55.29 0.00Suffolk Hs 49.02 58.41 69.00Wherry 63.69 69.37 76.38Average Landlord rent 55.38 65.06 73.92BroadlandBroadland 61.39 70.04 77.34Cotman 0.00 60.56 70.10Guinness Trust 0.00 72.50 83.80Orbit Ha 58.69 64.90 75.48Peddars Way 56.31 67.92 76.40Toynbee 0.00 0.00 0.00Victory Housing Trust 0.00 66.94 75.15Wherry 59.94 68.64 73.61Average Landlord rent 59.08 67.36 75.98Forest HeathOnebedroomnet rentTwobedroomnet rentThreebedroomnet rentBroadland 59.61 68.44 74.92Granta Hs 0.00 73.36 82.07Hastoe 0.00 67.76 74.06Hereward 55.69 65.94 69.85Kings’ Forest 55.50 63.61 70.47Orbit Ha 57.60 69.94 78.30Orwell 0.00 70.46 76.14Peddars Way 0.00 67.03 75.44Sanctuary 0.00 0.00 77.60Suffolk Hs 49.98 64.22 72.15Wherry 59.53 70.22 80.21Average Landlord rent 56.32 68.10 75.56LocalAuthorityGreat YarmouthOnebedroomnet rentTwobedroomnet rentThreebedroomnet rentBroadland 61.19 68.35 74.57Coop Homes 0.00 63.09 0.00Cotman 0.00 64.08 67.94English Churches 59.06 68.12 0.00Guinness Trust 0.00 70.18 75.84Orbit Ha 54.93 58.81 71.76Orwell 51.07 64.66 69.77Peddars Way 0.00 64.41 0.00Places For People H 54.50 61.82 0.00Suffolk Heritage 52.61 60.06 68.52Wherry 60.41 67.30 71.14Average Landlord rent 56.25 64.63 71.36IpswichBroadland 60.48 71.38 76.48English Churches 53.98 62.54 70.86Habinteg 0.00 65.95 73.74Jephson Homes 0.00 0.00 69.60London & Quadrant Ht 70.50 82.32 76.95Orbit Ha 55.98 66.98 78.70Orwell 53.08 61.46 72.77Salvation Army 0.00 66.13 74.13Sanctuary 54.69 65.80 76.35Servite 0.00 0.00 73.47Shaftesbury 55.29 66.48 78.18Suffolk Heritage 56.38 66.73 76.23Suffolk Hs 51.20 61.16 72.91Swan Housing 0.00 72.02 79.74Wherry 54.80 66.53 74.51Average Landlord rent 56.64 67.34 74.97King’s Lynn & West NorfolkBroadland 60.77 66.78 72.55Cotman 54.64 64.77 0.00Freebridge Community Hsg 52.59 61.45 65.63Granta Hs 0.00 0.00 73.20Guinness Trust 0.00 69.53 74.57Haig Homes 0.00 0.00 32.15Hastoe 55.00 67.70 73.48Housing 21 0.00 0.00 69.28Jephson Homes 57.58 64.11 71.89Longhurst Homes 55.65 67.40 70.70Minster General 50.18 60.30 69.54Orbit Ha 0.00 66.75 72.34Peddars Way 53.74 66.86 73.66Places For People H 0.00 64.72 0.00Sanctuary 53.89 69.91 75.15Wherry 55.81 68.89 74.68Average Landlord rent 54.99 66.09 69.20www.broadlandhousing.org

LocalAuthorityMid SuffolkOnebedroomnet rentTwobedroomnet rentThreebedroomnet rentBroadland 0.00 67.79 0.00English Churches 58.57 68.85 84.87Hastoe 0.00 67.57 74.16Orbit Ha 59.84 68.71 76.47Orwell 55.00 69.65 77.00Peddars Way 0.00 0.00 77.49Places For People H 0.00 66.96 0.00Sanctuary 0.00 73.81 80.12Suffolk Heritage 53.65 67.35 76.11Suffolk Hs 58.45 64.89 74.80Wherry 0.00 74.50 83.06Average Landlord rent 57.10 69.01 78.23LocalAuthoritySouth NorfolkOnebedroomnet rentTwobedroomnet rentThreebedroomnet rentBroadland 60.32 67.01 76.39Cotman 50.48 59.93 73.16Guinness Trust 0.00 71.21 78.62Hastoe 59.52 66.78 71.09Orbit Ha 56.88 69.48 74.95Orwell 54.27 69.93 76.08Peddars Way 47.86 65.84 76.04Places For People H 55.36 62.47 0.00Saffron Htl 50.66 59.62 67.61Suffolk Heritage 0.00 63.26 72.53Wherry 61.22 71.85 79.86Average Landlord rent 55.17 66.13 74.63North NorfolkBroadland 63.67 69.62 77.26Cotman 0.00 62.87 70.30Guinness Trust 0.00 73.69 83.54Hastoe 0.00 67.48 0.00John Grooms 67.24 83.01 0.00Orbit Ha 57.77 69.75 75.24Peddars Way 56.02 67.67 73.05Places For People H 0.00 65.04 75.20Victory Housing Trust 51.88 57.39 58.94Wherry 53.45 67.07 75.09Average Landlord rent 58.34 68.36 73.58NorwichBroadland 58.72 68.58 76.17Cotman 60.78 68.12 72.31English Churches 53.44 0.00 0.00Guinness Trust 57.41 71.73 77.56Habinteg 0.00 61.58 67.21Haig Homes 0.00 73.90 54.34Norwich Hs 62.02 0.00 78.59Orbit Ha 56.04 66.13 72.42Orwell 0.00 62.12 77.43Peddars Way 56.23 65.57 76.65Places For People H 56.47 65.87 72.24Wherry 53.22 64.53 70.42Average Landlord rent 57.15 66.81 72.30St EdmundsburyBroadland 0.00 75.27 81.61English Churches 66.49 83.81 95.33Granta Hs 59.64 74.01 81.67Guinness Trust 60.00 75.09 77.31Haig Homes 39.88 0.00 49.43Havebury Housing 52.07 62.67 72.10Hereward 55.46 0.00 0.00Jephson 59.87 66.47 74.12Jephson Homes 59.36 71.92 78.67Kings’ Forest 57.21 66.28 77.36Orbit Ha 60.18 75.07 81.97Orwell 55.05 69.77 76.43Sanctuary 58.95 68.88 77.94Shaftesbury 64.05 76.09 83.52Suffolk Hs 51.80 64.72 77.73Wherry 58.32 73.85 78.32Average Landlord rent 57.22 71.71 77.57WaveneyBroadland 62.62 68.49 76.27Cotman 0.00 58.50 67.37Housing 21 0.00 68.49 78.76Orbit Ha 55.35 65.11 72.71Orwell 55.90 65.17 74.08Peddars Way 0.00 0.00 72.12Places For People H 55.81 64.31 0.00Shaftesbury 0.00 65.76 0.00Suffolk Heritage 51.84 63.73 70.77Suffolk Hs 0.00 61.92 70.37Average Landlord rent 56.30 64.61 72.81Contact us on 0303 303 0003

This information is compiled from the Regulatory Statistical Return 2008 a return completed by allRegistered Social Landlords and is collated by the Tenants Service Authority. All housing associationsand local authorities are continuing to work towards the governments rent restructuring framework.What is Rent Restructuring?Since 2000 the government has worked on the principle thatrent setting in the social housing sector should be brought ontoa common system based on relative property values and localearnings levels. This system is called rent restructuring. This hasbeen developed into a formula which the Association and allother social housing providers have adopted and used to derivea target rent for each individual property.There is a separate target rent within each local authority areafor Bedsits, 1 Bed, 2 Bed, 3 Bed, 4 Bed, 5 Bed and 6 Bedproperties and all of the Association’s properties need to becharged this target rent by 2011/12.How is the Target Rent CalculatedThe government derived a formula to standardise the setting ofweekly target rents in 1999/2000 as detailed below:70% of the average rent for the Housing Association Sector x byrelative county earnings x bedroom weight +30% of the average rent for the Housing Association Sector xrelative property value = Target rentFor example an Associations 3 Bedroom Property in theNorwich Area would have had its original 1999/2000 target rentcalculated as follows:70% of sector-average rent 70% x £53.50 £37.45multiplied by relativecounty earnings 302.5 / 316.4 £35.80multiplied bybedroom weight x 1.1 £39.3830% of sector-average rent 30% x £53.50 £16.05multiplied by relativeproperty value 68000 / 49750 £21.94add togetherthe sub-totals £39.38 + £21.94 £61.32This target rent is increased each year by a guideline limitimposed by the Tenants Services Authority, which is issued eachyear to the Association. These increases for the last 10 yearshave been:2000/01 – 2.10% 2003/04 – 2.20% 2006/07 – 3.20% 2009/10– 5.50%2001/02 – 4.30% 2004/05 – 3.30% 2007/08 – 4.10%2002/03 – 2.20% 2005/06 – 3.60% 2008/09 – 4.40%This means that in 2009/10 a property in the Norwich areashould be charged a weekly rent of £86.38.How does the Association ensure that each property reaches Target Rent?The Association has to ensure that all its properties reach the target rent as described above by 2011/12. Every property has a rentplan and the Association is permitted to increase an individual property’s rent by the given guideline limit above plus or minus £2. Anexample of a rent plan for a 3 bedroom property is outlined below:Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 102002/03 2003/04 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12Actual Rent £60.96 £64.30 £68.42 £72.88 £75.34 £78.43 £81.88 £86.38 £88.97 £91.64Target Rent £66.74 £68.21 £70.46 £73.00 £75.34 £78.43 £81.88 £86.38 £88.97 £91.46Increase above Guideline limit £2.00 £2.00 £2.00 £2.00 £0.13 £0.00 £0.00 £0.00 £0.00 £0.00The above property reached target rent by 2006/07 and will be charged a weekly rent of £86.38 in 2009/10.How is my rent increased each year?As outlined above, each property has a rent plan and must reach the calculated target rent by 2011/12. The Association can onlyincrease rents by the guideline limit (in 2009/10 this was 5.5%) plus or minus £2. These limits are issued to the Association by theTenants Service Authority.What is the likely increase for 1 April 2010?The RPI figure for September 2009 on which the target rent increase is to be based was minus 1.4%. This means that with theadditional charge of 0.5% target rents will decrease by 0.9% (This RPI figure is not yet confirmed).This means that if you are on target rent, this is likely to be decreased from 1 April 2010.Can I See my Properties Rent Plan?Yes if you contact Customer Services and request a copy of your property’s rent plan, this can then be sent out to you.Where can I get Further Information?If you require any further information or guidance about rents and how they are calculated please visitwww.tenantservicesauthority.org.Should you have any queries’ in respect of your rent please contact Customer Services on 0303 303 0003.