A rent increase is coming into effect as of April 2021...
Here you'll find the latest updates and information about the increase and what this could mean to you.
How much is the increase?
Most rent payments will increase by 1.5% in April 2021. If you pay service charges, these will change in line with the cost of providing the services where you live.
We will write to all customers in February 2021 to confirm how much their new rent and service charge payments will be for the year.
There are further implications for digital tenants, click on the next tab to find out more.
I am a digital tenant. What does this mean to me?
Customers on digital tenancies must always maintain four weeks credit.
Where your rent increases, we will arrange a one-off payment in April 2021 to keep your account in four weeks credit of the new rent amount. The additional amount will depend on the amount of your rent increase – for the average Thrive property, this one-off amount will be between £10 - £20.
From May 2021 onward, your basic direct debit instalments will be for new rent only.
I claim Housing Benefit or Universal Credit. Is there anything I need to do?
Housing benefit: we will tell your Local Authority what your new rent and service charge payments will be so they can re-assess your claim.
Universal Credit: You will need to inform Universal Credit of the new rent amount after 5th April 2021. Universal Credit cannot accept this information in advance.
If you think you may have difficulty in paying your rent at any time, support is available. Please click here to access our latest advice and support.
Why is there a rent increase?
At a time where our homes have been more important to us than ever, this year’s increase will help us continue keeping our existing properties safe, whilst providing more families with a place to call home.
The increase of 1.5% is in line with the Government’s guidelines. As a not-for-profit business, every penny Thrive is paid in rental income is reinvested back into maintaining and improving existing housing stock and developing more affordable homes.
You can find out more about how we spend rental income in our Annual Report for Tenants 2019-20.
Will the cost of my service charge change too?
Service charges change annually if the cost of providing them for your home changes. We will inform customers of any changes to the amount due for service charges in February 2021.
What if I have difficulty making payments?
We understand that some customers’ income may have been affected due to coronavirus or for other reasons and we want you to know there is support on hand.
Please click here to access our latest advice and support.
Our team is available to provide further support and guidance. Please contact us immediately if you are having difficulty managing your payments for any reason.
- I have a question, how can I get in touch?