News summary of the latest Policy and Governance legislation that could impact and/or may require action from our member charities, with links to further information where applicable.
REGULATED PROVIDERS
Following the announcement made during the budget, The Department for Levelling Up has confirmed the outcome of the rent consultation on a proposed Direction to the Regulator of Social Housing (āthe Regulatorā) on social housing rents from 1 April 2023 to 31 March 2024.
As a result of the consultation, a new Direction from the Secretary of State is being issued to the Regulator to ensure that from 1 April 2023 to 31 March 2024, the Regulatorās rent standard:
- makes the CPI+1% limit on annual rent increases subject to a 7% ceiling. This ceiling would apply to both Social Rent and Affordable Rent homes;
- applies an exception to the 7% ceiling for Supported Housing;
- does not apply the 7% ceiling to the maximum initial rent that may be charged when Social Rent and Affordable Rent properties are first let and subsequently re-let.
The Direction, cited as the Direction on the Rent Standard 2023, will operate alongside the existing Direction on the Rent Standard 2019.
See theĀ Direction on the Rent Standard 2023 and policy statement on rents for social housing.
RECORD OF PREVIOUS 2022 Policy and Governance updates:
Posted 15 December 2022