Rent increase from April 2025
From Tuesday 1st April 2025, First Garden Cities Homes will be increasing social housing rents by 2.7%
As requested by our Resident Partnership Group (RPG), we are sending you advanced notice of next year’s rent increase.
Why is your rent increasing?
Like most organisations, First Garden Cities Homes faces increased costs each year, especially the cost of delivering repairs and maintenance and developing new homes, because of the rising cost of materials, supplies and labour. By increasing the rents we charge, we are able to cover these costs and maintain the services we offer to our residents.
How are rent increases decided?
Social housing rent increases are set using a national formula of Consumer Price Index (CPI) in September 2024, plus an additional 1% in recognition of the inflationary risks in the economy. First Garden Cities Homes has agreed the rent increase in consultation with our Resident Partnership Group.
Shared Ownership Rents with leases that are linked to CPI will increase accordingly (with September’s CPI of 1.7% as the basis), and those with leases linked to Retail Price Index (RPI) will increase accordingly (with either September’s RPI of 2.7% or February’s RPI of 4.5% as the basis, depending on the lease).
The additional income will ensure we keep pace with the cost of living and can continue to:
- Re-invest in existing homes by delivering a robust programme of home improvements in residents' homes
- Contribute to the cost of building 370 new homes by March 2027, including 50 homes in the Welwyn Hatfield area
- Meet our social purpose by offering residents money advice and tenancy support, heath & wellbeing activities and a manager in each of our sheltered, supported and extra care housing schemes.
Please note, residents who receive communal services will receive information in February about their service charges for the coming year.