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 amount of increase shall be determined annually in December after a general valuation is carried out and will be guided by the national % increase of the prior 12-month period. The Society will ensure that all tenants are given at least 2 months’ notice of any rental increase, and such increases shall commence in April each year.
St Michael Housing Society will ensure that all rents are affordable and at least 20% lower than the private market rental value.