The Government has today published a Consultation to invite views from social housing tenants and landlords on a proposed rent cap which would be in place for the coming financial year from April 2023.
The Consultation has been expected for some time and the proposed options of 3%, 5% or 7% caps on social and affordable rent increases next year are not particularly surprising. However, this is the sector’s opportunity to engage fully with Government about the impact of the proposed cap on your businesses and your residents; and to critique the detail of the proposals.
The Consultation can be accessed here.
The rent cap only deals with social and affordable rents. Shared ownership is not governed by the Rent Standard so is not part of this Consultation, but we are aware that there are discussions going on behind the scenes at DLUHC about how to manage shared ownership rent increases next year. Other exemptions to the Rent Standard (intermediate rent, temporary social housing etc) are also excluded from the proposals. Watch out for further eflashes from us about our forthcoming webinar on this Consultation.
In the meantime we would encourage you to contact any of us to discuss our and your views on the proposals set out in the Consultation: Andrew Cowan, Gemma Bell, Nick Billingham, Jonathan Corris.