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Rent Levels
As a new tenant the Rent for your property is worked out by a Government formula. This formula uses the current national average rent for a property and also takes into account 3 other things:
1-The number of bedrooms in your home.
2-The average wage in the region of the country.
3-The value of your home.
70% of your rent is based on the number of bedrooms in your home and the average wage in our region, and the other 30% is based on the value of your home in 1999.
The Rent is increased each year by the inflation rate plus 0.5% for that year. The inflation rate used is the Retail Price Index (RPI) for the twelve months to September of the previous year.
You can download a spreadsheet which contains detailed information on the rent levels and service charges for different types of properties. Depending on the variable figures outlined above, your rent may vary. This is why there are "Rent From" and "Rent To" columns, as you may be paying a figure that lies somewhere between those amounts.