Rent increase from April 2024
From Monday 1st April 2024, First Garden Cities Homes will be increasing rent by 7.7%
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?
Rent increases are set using a national formula of Consumer Price Index (CPI) in September 2023, 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.
The additional income will ensure we keep pace with the cost of living and can continue to:
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Re-invest in existing homes by delivering a robust programme of home improvements in residents' homes
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Contribute to the cost of building 450 new homes by the end of 2025, including 50 in the Welwyn Hatfield area
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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.
Claiming Housing Benefit or Universal credit?
If you are claiming housing benefit which is paid directly to us, you do not need to do anything. We will automatically arrange for your payment to be reassessed by the relevant local authority.
If you are 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 by logging into your Universal Credit Journal here.