The Government has started to introduce a number of policies under the Housing and Planning Act, some of which may affect you. One of the new policies the government will be introducing next year as a result of these changes is pay to stay.
If you are affected by Pay to Stay your rent will increase. We are waiting for more guidance from the Government as to how we will calculate your rent but we will keep you updated.
Pay to stay will be introduced in April 2017.
Households with an annual combined income of £40,000 or more living in London will be affected. This only applies to the two highest earners in the household (meaning tenants, joint tenants, civil partners, partners and spouses). If you receive Housing Benefit or Universal Credit you will not be affected.
The Government wants rents in social housing to be fairer and to encourage higher income households to move into the private rental sector and free up social housing for more vulnerable people.
If you are not in receipt of Universal Credit or Housing Benefit we will be required to start collecting information about your household income. We will write to you over the coming months to gather this information.
Your new rent will be calculated against your household income and will gradually increase in line with your salary but we are waiting for details as to how this will be calculated.