Shared Ownership customers who pay rent only

Dear XXXX,

We’re writing to let you know that after a full review of your rent charges, we’ve taken the difficult decision to increase your rent charge.  We have however made the decision to cap your rent increase at 7.7% instead of 9.4%.  

We know that any rise in outgoings can cause concern, so below you can find details, of the new rent you need to pay under your shared ownership lease and what help is available around paying your rent if you need it.  

We always try to keep our rent charges as affordable as possible, but the costs of maintaining and repairing your homes, including labour and materials has significantly risen, due to high inflation rates and increased energy and fuel costs.

Your next rent review date under your shared ownership lease of the premises is 1 April 2024. The rent you currently pay is XXXX per month. From 1 April 2024 your new monthly rent will be XXXX  

Under the terms of your shared ownership lease the rent which you are required to pay on and after 1 April 2024 is XXXX per month. You (and any assignees of your shared ownership lease) must pay to us the amount we agree we will accept from you (and any assignees of your shared ownership lease) until the next review or you exercise any right to staircase.

We’ve calculated your new figure of XXXX per month as follows:  

1. RPI Index for September 2022 was XXXX (this was the Index on which the rent review in April 2023 was based);  
2. The Gross Rent fixed at the rent review in April 2023 was XXXX per month;  
3. RPI Index for September 2023 is XXXX (this is the Index figure on which this rent review in April 2024 is being based);  
4. The reviewed Gross Rent as at 1 April 2024 is therefore XXXX per month being: XXXX; we have decided to limit the rent increase to 7.7% which means the reviewed Gross Rent as at 1st April 2024 will be XXXX.

Because your share of the Premises is currently XXXX and our share is XXXX, the rent which you must pay is only XXXX, which is the sum of XXXX per month.

What cost of living support is available?  

We’d also like to remind you of the support available through our Thrive Fund. The fund is here to support you in combating the increased cost of living, and it can be used to support customers who may need additional support purchase things such as furniture, kitchen appliances, school uniforms, children’s coats, and other everyday items.  

All the information you need to apply for support through the Thrive Fund can be found on our website: www.onemanchester.co.uk/advice-support/money-debt-advice-support

IMPORTANT – What do I need to do now?  

Universal Credit  

If you receive the housing element of Universal Credit, you need to let the Department of Works and Pension (DWP) know about the increase in your total weekly payment by updating your Journal on the day of the increase Monday 1 April 2024.  

Don’t update your Journal before this date because the DWP will not recalculate your entitlement with your new rent amount.

Standing orders and online banking

If you pay by a standing order or via online banking, please change the amount that has been set up to the new rent amount set out in this letter.

Direct Debit

If you pay by Direct Debit, don’t worry we’ll make the changes for you. You’ll also receive a letter from Allpay to confirm your Direct Debit has been updated. Don’t forget to check this letter to make sure everything is set up right. If you don’t get a letter or want us to double-check your Direct Debit payment we’ll be happy to help just get in touch via our contact us form.

Housing Benefit

If you currently receive Housing Benefit directly into your rent account, the total weekly charge will be updated automatically. We’ll let your local authority benefits department know of the change and they’ll update your Housing Benefit entitlement.  

If your Housing Benefit gets paid into your bank account, please make sure you tell your benefits department about the change as soon as possible. Making sure you do this will avoid any underpayments being made which could lead to arrears on your rent account.

This letter and the additional documents are sent to you by One Manchester Limited of Lovell House, 6 Archway, Hulme, Manchester M15 5RN

What if I need help?

We’re here to help – If you’ve got any questions or concerns about paying your rent, please get in touch as soon as possible by using the contact us form on our website - or by calling us on 0330 355 1000 a colleague will be happy to help.

We’ve got lots of helpful information on our Money Help pages on our website, or our Financial Inclusion team is also always on hand to help when you need them, just call 0330 355 1000.

Alternatively, you can contact the following organisations for support:

• Citizens Advice: 03444 111 444
• Shelter: 03301 755 121

Many thanks,

Nicole Kershaw 

Chief Executive

XXXX = Please review your letter for information specific to your tenancy.