FACEBOOK UPDATE: Our Facebook accounts for Network Homes and Network Homes sales have been compromised. We’re doing everything we can to liaise with Facebook and resolve this issue. Until then, please do not use our Facebook accounts to contact us and ignore any messages or post you may have received from our Facebook accounts from Thursday 28 September 2023. 

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Your rent increases explained

04 April 2023

Each year, we review your rent and we follow rules set by Government to ensure any changes we make are fair.

Social rent tenants will have received their annual rent review from us recently and you will have seen that we increased our social rents by 7% in line with Government guidelines from April this year. The Government normally sets your rent based on the Consumer Price Index (CPI) for September, plus 1%. The CPI measures changes in the prices of goods and services over time (inflation).

The CPI in September was very high (10.1%) and so the Government capped social rent increases at 7%. 

What about shared ownership rents? 

We have also decided to limit shared owner rent increases to the same level as our social rents, capping them at 7%. If you’re a shared owner, the rent you pay is linked to the Retail Price Index (RPI) for November. The Retail Price Index is a measure of inflation which measures the costs of goods and services. This year RPI has been very high and in November it was 14%, so this is why we’ve decided to cap the increase at 7% in line with social rents. 

Are other rents rising?

The rents for residents in Intermediate Rent, London Living Rent and SmartRent properties have been increased by 10.1% which is in line with September CPI. We have written to all residents affected to explain why we have had to raise these rents.

Here to help 

We know many households are facing financial pressures because of rising prices and energy bills. We offer a range of support services for residents including: welfare and benefits advice emergency financial support through our charitable fund employment and training opportunities.  If you’re struggling to pay your rent , please speak to us to find out what support is available to you. Contact us or visit our dedicated to cost of living help area.

How we use your rent

Network Homes is a not-for-profit housing association with over 21,000 affordable homes across London and Hertfordshire. We invest our money into delivering our social objectives of building more affordable homes, maintaining our existing ones and providing services.

We are also facing rising costs and materials shortages which are putting financial pressures on our business. This is why we need to increase rents in line with Government guidance so we can keep building more affordable homes for people who need them, improve the homes we have, support our ongoing building safety programme and respond to our obligations to tackle the climate crisis.

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