Important information about your rent | News

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Important information about your rent

Your rent is about to increase

The following information provides you with details about the increase to your rent from Monday 4 April 2022.

This year Magenta Living, along with most other social housing providers, is proposing to increase your rent by 4.1%. This is set by central government regulations.

Please Note: If you are in receipt of Housing Benefit for your rent, for the full amount or part of it, we will notify the appropriate Housing Benefit Section at your local council. There is no need for you to do this. If you are in receipt of Universal Credit, you should contact the Department of Work and Pensions with details of your new rent. 

 

Why are Magenta Living increasing the rent?

The rents that Magenta Living and other housing associations charge, are set by central government in line with its Rent Standard.

Like most organisations, Magenta Living faces increased costs each year due to inflation and by increasing the rents we charge, this enables us to cover these costs and maintain the services we offer.

 

How are rent increases decided?

Rent increases are set using the same national formula. This is the Consumer Price Index (CPI) which, as at September 2021, was 3.1%, plus an additional 1%, giving a total increase to your rent of 4.1%. This increase means, on average, Magenta Living rents will rise by £3.75 per week.

Following this 4.1% increase, the average rent charged for a Magenta Living home, as at April 2022, will be £91.97.

This additional income will ensure Magenta Living continues to:

  • Carry out repairs and maintenance as well as re-investing in our homes, to provide safe and warm homes for all our tenants
  • Invest in carbon reduction, climate change and energy efficiency improvements which longer-term should make your home more affordable
  • Build much needed new homes
  • Create £14 million in social value through local job and training opportunities, community regeneration activities and the provision of community properties
  • Make sure the neighbourhoods where you live are safe and well maintained
  • Deliver day-to-day neighbourhood management and supported housing services and financial inclusion advice and support
  • Deliver our Vision of Vibrant... homes, lives, neighbourhoods
     

I rent a garage from you – will my rent increase too?

Yes, if you rent a garage from Magenta Living, your garage rent will also increase by 4.1%.

Magenta Living's income and expenditure - also available in our 2020-21 annual report

Help

Did you know that you may be able to claim Housing Benefit towards the cost of your rent payments, please contact us for further details on how to do this or visit: magentaliving.org.uk/welfare-and-benefits

There are a number of ways in which you can pay your rent and other charges –find out more by visiting: magentaliving.org.uk/paying-your-rent

Are you claiming Universal Credit?

Claiming Universal Credit

If there has been a change in your circumstances and you need to claim Universal Credit, you can do this by visiting www.gov.uk/universal-credit

Please inform us that you intend to make a Universal Credit claim as we can offer you advice and support, as well as agree your next steps for paying your rent.

Updating your Universal Credit Journal

If you are already claiming Universal Credit and claim housing costs to pay your rent, you must let the Department of Work and Pensions (DWP) know about the change in your rent.

To make this easy for you, the DWP will send you a ‘To Do’ notification to your journal in the first week of April 2022. You must complete the ‘To Do’ before the end of your Universal Credit assessment period in April 2022 or you will miss out on the money you are due.

If you need help with your journal, please speak to your Income Officer by contacting them on 0808 100 9596.

If you don’t tell the DWP about the rise in your rent, your Universal Credit won’t be increased to cover your new rent cost and you could miss out on other benefits that you are due.

To find out more about Universal Credit visit: www.gov.uk/universal-credit

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