St Michael Housing Society will always fulfil its objectives to provide affordable, good quality community housing, within the local area by using all resources available. To achieve this, the society must maximise its income and income potential. Currently, income for the society only comes from rentals.
The Valuation Office reviews rents on protected tenancies every two years and this valuation, along with a professional valuation, shall assist in determining the level of increase.
Rents are increased annually in April. The amount of increase will be determined annually in December and the Society will always give our tenants at least 2 months’ notice of any rent increase.
As a social housing provider, we will ensure that our rents are always affordable and at least 20% lower than the private market rental value.