2023 - 2024 Rent Charges and Management Fee Consultation
Pineview only makes charges to ensure there are funds to undertake our ongoing work. The only income the Association receives comes from the rents that tenants pay, and we always do our best to keep your rents as low as possible.
The Association is a non-profit making charity. Any surplus income from any year is put aside for future repairs and improvement works such as kitchens, windows, boiler replacements etc.
Without enough rental income to generate surpluses to set aside, we do not have any money to keep tenants homes up to standard. Likewise, the lower the rent increase, the lower the amount of money we have to spend. Our costs increase year on year, and this is why rents also have to increase.
We forecast into the future to make sure there will always be sufficient resources to provide services and maintain homes and areas.
In order to have a forecast we need to make an assumption within our financial business plan about the amount our income will increase each year to allow us to meet our costs which increase each year. The base line assumption is the October CPI % increase. October 2022 CPI was 11.1%.
A key part of our rent setting process involves consultation with our tenants on what level of rent is set from April. The law requires us to do this every year.