For Co-op Homes, the September 2019 CPI rate of 1.7% will be used, which means that the increase of the rental element will be no greater than 2.7%.
We're committed to maintaining rents at an affordable level whilst still complying with the government’s rent increase system, and will continue to work hard to make sure you receive the best possible value for your rent. Service charges (where this applies) is an extra charge, alongside your rent. Co-op Homes is a not-for-profit organisation, which means you only pay the actual costs of the services we provide for your block and estate.
These will vary according to where you live and the type of property you have. For example, if you live in a flat on an estate, you will receive more services than if you lived in a flat in a street property. Your service charge is your share of what it costs Co-op Homes to provide these services. It’s based on services we expect to deliver in the New Year, either through existing contracts or charges from the previous year. Examples of services are things like grounds maintenance, electricity for communal lighting and cleaning and building maintenance charges.
We will write to all Co-op Homes tenants by the end of February 2020 to explain how the changes will affect you personally.
If you have concerns about debt or managing your money you can get free advice by contacting the Money Advice Service (www.moneyadviceservice.org.uk) or by calling 0300 500 5000.