We use a formula called ‘Target Rent’ to work out the rent for a property. The rules are based upon the following:
- The value of the property as at 1999 valuation levels.(*)
- The average manual wages in South Yorkshire
- The number of bedrooms
- The national average council rent.
The rule was set by the Government in 2003 so that all housing providers worked out their charges in the same way and eventually the rental charge for similar properties in the same area would be comparable, no matter whether the landlord is a council or housing association.
(*) You can ask what the valuation is that is being used to work out your rent.
Simply complete the Rents Team e-form to find out.