With the cost of living rapidly increasing over the last year, the government carried out a consultation with Housing Associations, including bpha, to consider and reduce the impact of rent changes. We are pleased that that the consultation has resulted in a cap (a limit) on the amount that rents can increase for the year April 2023-April 2024.

Without the cap, the increase in costs means rents would have risen up to 13.1%. Instead, rent increases have been capped at 7%. bpha supports this and will absorb the additional costs between 7% and 13.1 %, aiming to minimise the impact on our customers. While the cap is a positive step for residents, we know that any increase in your rent is unwelcome, particularly at the moment.

So, what happens to the rent that you pay? As a social landlord, we are a ‘not for profit’ organisation that aims to provide homes for those who need them. That means the rent you pay is used to maintain homes and buy, or build, additional homes. We also support organisations and schemes that benefit communities, such as investing in community hubs and youth services. Our costs have increased and will continue to. Our development plans and services will be affected during the coming year, but our aim is to continue doing what we do, as well as we can.