Rent changes 2024/2025
09 February 2024
Torus is committed to keeping rents affordable, while maintaining services and have outlined the change, how this will affect you and support available.
All Torus tenants pay rent, regardless of whether you pay the full charge yourself, or if you receive Universal Credit or Housing Benefit.
From April 2024, following careful planning and in line with the Government’s guidelines, we will be increasing the rents we charge by 7.7%.
In February, every customer will receive a letter from Torus outlining what the new rent will be from April 2024. This page will provide all your individual information and explain what you need to do if you are in receipt of benefits.
- Rent and service charge change letters will be posted in mid-February 2024
- All rent and service charges, weekly and monthly will apply from 1 April 2024
People whose tenancy started on an affordable let property (paying affordable rent), rent to buy and shared owners between 1 January and 31 March 2024 will not be impacted by this year’s rent increase, their first rent increase will be in April 2025, and they will be notified by letter in February 2025. Service charges will increase as normal where relevant.
Social rents are set by Government legislation
Social rents are set by Government legislation and Torus follows Government guidance when setting the rents for our properties and you find the guidance for this on the Government website.
Increases happen across the social housing sector as landlords, like Torus, raise rents in line with the government standard.
This year (2024/25) the rent increase has been set in accordance with regulation, using the September 2023 Consumer Price Index (CPI).
As a housing association, the rent we charge is set out by the government in the 2020 Rent Standard and the Policy Statement on rent for social housing. The maximum increase for 2024/25 is CPI plus 1%. This is the Consumer Price Index increase (cost of living) in September 2023: 6.7% plus an additional 1%.
Please note that for Shared Owners, the increase is based on the Retail Price Index (RPI) in September 2023, 8.9% plus 0.5%.
Important information for anyone claiming benefits
It is important that those customers in receipt of benefits keep their rent change 2024/2025 letter safe as they will need their new rent figure to update their Universal Credit Journal or advise the local authority for Housing Benefit claims, after the change in April 2024.
Universal Credit (UC)
Customers in receipt of UC, will need their new rent figures to update their UC Journal. Torus are not able to update UC about the changes to customers rent, so it is important that customers let them know to avoid being under or overpaid.
This should not be done until after the rent change date in April 2024, but it must be done before the end of the “Monthly Assessment Period” in which the rent change occurred.
UC will only backdate a change for one month. Failure to update the UC journal with new housing costs will mean that the assessment does not include the full amount due to cover the rent. Which could lead to the customer having to pay any shortfall and rent arrears on their account.
Housing Benefit (HB)
Anyone with a new tenancy from 1 December 2023, who have made a claim or are in receipt of HB will need to contact their local authority to inform them of their new charges from April 2024. They may ask to see a copy of the rent change letter, so please keep it safe.
What will the increase be used to pay for?
The yearly rent increase ensures that Torus can continue to deliver and improve our services.
Despite the on-going increase in costs, we are still committed to investing in maintaining and improving homes, supporting communities, and delivering the wider services our customers need.
Torus Foundation is working with even more local partners and organisations, giving customer access to free opportunities across Torus communities. Providing help to maximise income, with advice covering debt, welfare benefits, budgeting, and dedicated Energy Advisors who can help those struggling with energy bills. As well as looking at ways to make improvements towards health and wellbeing, the team provide a range of training and support to help people take that step closer to their dream job.
Further support will continue to be provided by ourselves for services to support the most vulnerable in our communities, including those facing homelessness, neglect or are victims of domestic abuse.
Help and Support
What can I do if I have concerns about paying my rent?
After receiving the letter, any customers who are worried about how the changes may affect them should get in touch as soon as possible, as we are here to help, so one of our dedicated teams can work with them to reach a solution, including
- Affordable repayment plans
- Specialist advice on claiming benefits
- Advice to help you maximise your income and manage debt
Customers living in a supported housing scheme you can also speak to a Scheme Manager.
However, customers may need to consider how they are going to budget for the rent increase. Torus customer, you can access free support from Citizens Advice. Contact them directly on 0808 279 7840. They are taking enquiries from Torus customers across all areas, so make sure they know you’re with Torus.
There are several organisations who can also help with money advice and support:
Paying by Direct Debit
Most customers pay rent by Direct Debit because it’s straightforward, secure and means they never fall behind in their payments. It can be arranged weekly, fortnightly, four weekly or per calendar month on any date. Find out more here about setting up a Direct Debit here.
Tenant Portal - services at your fingertips
Don’t forget customers can pay their rent and check their balance and manage their tenancy online 24/7 using the tenant portal.
*You will need your Tenancy Number (available on your rent change letter), date of birth and an email address to set up your online account