The Regulator of Social Housing (RSH) has published a revised Rent Standard.
The 2023 Rent Standard confirms the following:
- a 7% ceiling on the annual increase of rent for low-cost rental accommodation (for both social and affordable rented housing) in rent periods that begin in the 12 months from 1 April 2023 to 31 March 2024 and
- the 7% ceiling does not apply to the calculation of formula rent or the rent cap that applies when social rent properties are first let or relet, which continue to increase by CPI + 1% and CPI + 1.5% respectively.
The 2023 Rent Standard does not cover supported housing, where the 2020 Rent Standard continues to apply.