Annual Rent Increase
We are currently notifying residents about the annual rent increase. Here are some frequently asked questions about your rent review.
Rent Review: Your questions answered
This page provides information about the 2015/16 annual rent review for Muir residents.
It explains:
- Why your rent has gone up
- When the rise comes into effect
- How residents can access financial advice and support if needed
If, after reading this, you have any questions about the change to your rent, please contact us in the following ways:
- Call us: 0300 123 1222
- Text us: 07537 404678
- Contact us via our website: www.muir.org.uk
- Email us at info@muir.org.uk
Why has my rent been increased?
Under the terms of your tenancy agreement, we are allowed to review your rent every twelve months. This year, your rent increase is lower than last year’s.
Muir manages over 5,000 properties across the country, and the money we receive in rent means we can continue to provide services like repairs and improvements to your homes and communities. Last year, we spent £3.25m on planned maintenance and improvements to your homes, and we will continue to invest to ensure that your homes are kept to a high standard.
When does the new rent payment come into effect?
We conduct our rent reviews each year to take effect from the first Monday in April. This year, the new charges apply from Monday 6th April 2015.
How do you work out how much to put my rent up by?
Similar to other housing providers, the rent you pay Muir is determined and subsequently increased according to the terms of your tenancy agreement or lease agreement. The elements that make up the total weekly rent are detailed in the agreement and comprise in most cases of a net rent plus service charge.
From April 2015, in line with Government guidelines, we add 1% to the Consumer Prices Index (CPI) published in the previous September to calculate the rate of increase to your net rent amount (CPI is an internationally recognised measure of consumer price inflation).
Using this Government formula, it has been calculated that your net rent will increase by 2.2% starting from 6th April 2015.
The rate of change applied to your service charge, if applicable, may be different and this will be due to adjustments made to reflect increases or decreases in items classed as service charges.
Where will this money be spent?
Muir is a not for profit organisation, so the money we receive is spent on providing good quality, affordable housing for people with varying needs across the country.
Our aim is to invest in people and communities, and a significant amount of this money is invested back into the areas in which you live - we want people to thrive and maximise their opportunities in life.
Last year we invested heavily in improvements to your homes and communities. We also support local organisations, groups and individuals through the Friends of Muir Group, which invests in projects and activities that make a positive difference to your communities.
What do I need to do?
If you pay by Direct Debit you don’t need to do anything. We will make the necessary adjustments to your regular Direct Debit payment.
Don’t forget, you can also use your Allpay card via PayPoint or go online to www.allpayments.net – you will need your Allpay Card reference number. Or, you can pay by credit or debit card over the phone by calling 0844 5578321(24hours) or 0300 123 1222 (between the hours of 8am – 6pm).
Is there any help for residents who are struggling financially?
Muir will continue to offer support and financial advice to all its residents, especially those having money difficulties during the current economic climate. If you are struggling with your rent and other bills, please contact us as soon as possible – the earlier you speak to us, the more we can help.
Muir’s Money Advisors are on hand to help residents. They can offer advice on debt management and Universal Credit.
For more information about your rent or to access financial advice please contact us:
Phone: 0300 123 1222
Or email us at info@muir.org.uk
We recognise that increases in rent and other charges are never welcome, especially in these difficult times. Muir remains committed to delivering quality homes and services that offer the best value for money for our residents.