How is my rent reviewed?
At the beginning of each financial year, we review your rents and service charges.
From April 2022, after very careful consideration and consultation with the Riverside Customer Voice Executive, Riverside’s Board has decided to increase rents by 4.1% for most tenants, keeping within the maximum level of rent increase allowed by the Government.
We looked at the typical local incomes, the increasing cost of maintaining homes, what we need to invest in improving homes and services and more. As well as comparing our rents to those of other social housing providers.
Increasing our rents is essential to make sure that we, as a social housing provider, can continue to cover increasing costs and fulfil our responsibilities to keep our customers safe and secure. And to provide more affordable homes for our customers.
Please note that changes to your service, support, and personal charge are reviewed separately.
- For monthly rent and charges, the changes will apply from Friday 1 April 2022.
- For weekly rent and charges, the changes will apply from Monday 4 April 2022.
How is my rent reviewed?
We review your rent each year as part of our commitment to provide you with quality services and to keep homes in good condition.
As part of the review, we look at how affordable our rents are by comparing to other social housing providers and in relation to typical local incomes in the area.
Our rent setting policy has more information on how we set rents. For a copy of the Policy, please contact us.
What are the Government rules on setting rents?
The Government determines how social housing rents are set and changed. These rules apply to the majority of Riverside customers.
The Government is allowing social housing providers like Riverside to increase most rents by up to the Consumer Price Index (CPI) +1%. CPI is a commonly use measure of inflation.
For April 2022, this limit is 4.1% (as CPI in September 2021 was 3.1%).
For more information about rent setting, please see the Government website.
How is my rent spent?
We work hard to deliver value for money by spending efficiently, investing income from rents into services (including online customer service) and improving homes.
For example, last year we spent £20.5 million improving homes, including replacing 339 bathrooms, 321 kitchens, 557 windows and 1,804 boilers.
You can see a breakdown of how every £1 of rent is spent in our Annual Report.
I’m struggling with my rent, where can I get help?
We know it’s been a challenging few years and that people are facing a range of financial pressures, including an increase in energy and food costs, households bills and the removal of the £20 Universal Credit uplift.
We are here to help and support you or can put you in touch with other organisations who can help. Please get in touch so we can help. Check out how we can help with:
Paying by Direct Debit
Most customers pay rent by Direct Debit because it’s straightforward, secure and means you never fall behind in your payments. It can be arranged weekly, fortnightly, four weekly or per calendar month on any date. Contact us to set up a Direct Debit today.
My Riverside – access anytime, anywhere, on any device.
Don’t forget you can pay your rent and check your balance and manage your tenancy with My Riverside. Signing up is easy, set up your account today.