If you were a Tamar resident before January 1989 you may have a Secure Tenancy and will be charged what is called a Fair Rent. This is set by an independent Rent Officer every two years. The rent that they set is based on a formula which includes a cost of living increase and a fixed percentage increase set by the Government.
Tamar will never charge Fair Rents which are more than our Social Rent (See below) for the same type of property. This means that your rent may increase each year rather than every two years, but will never be more than the rent registered by the Rent Officer.
Your rent will be a Social Rent if
- Your tenancy started between 1989 and 2012, or
- Your tenancy started after 2012 but you were an existing social housing tenant or
- You were let a Fixed Term tenancy on a social rent
Your rent will be set using a Government formula called rent restructuring. The rent is calculated based on the value of your home, its size and the average manual wage for the area. The same formula is used by all Housing Associations and Local Authorities in England. This is called the Social Rent.
Affordable Rents (Including all Rentplus tenancies)
Some tenancies let after January 2012 are let as an Affordable Tenancy. The rent for these properties is set at the start of the tenancy based on a total figure (including service charge) of 80% of the market rent for the property. This is called an Affordable Rent.