Everything you need to know about your rent rise this April
We are increasing your rent from 1 April 2024.
If you are an Eastlight tenant, your rent will increase by 7.7%. If you're a shared owner, your rent will change based on your lease agreement with Eastlight.
You will soon receive full details of your rent and service charges in your annual rent letter. We understand that rent rises can be hard to manage, especially when the cost-of-living remains high.
Please contact us if you are struggling or worried about how to pay your rent.
You will not lose your home if you cannot pay your rent, as long as you work with us to manage any arrears you have.
Why your rent is increasing?
We are a not-for-profit organisation, and the income we receive from your rent payments is used to provide your services and maintain and build affordable homes.
Costs have gone up significantly over the last year. For example, the cost of providing buildings insurance to everyone’s homes increased by 60% last year – to more than £1 million.
How do we use your rent?
Here's a breakdown of how every £1 of your rent is spent:
- 24p is spent on managing existing homes
- 22p is spent on maintaining existing homes
- 21p is spent on improving existing homes
- 17p is spent on paying interest
- 4p is spent on other costs
- 3p is spent on investing in communities
- 9p is surplus and is recycled into helping build new homes.
Over the next year we intend to use the rent we receive to help us provide your services, including the following:
- Carrying out up to 30,000 repairs
- Installing 150 new bathrooms, 250 kitchens, 200 front doors and 120 rewires
- Spending £600,000 on aids and adaptions
- Replacing approximately 800 heating systems
- Carrying out more than 20,000 safety checks covering gas, oil and electrics
- Building more than 200 new homes for those who need them.
Help is at hand - we're here for you.
Please contact us here, if you need our support.
With energy, food and other bills continuing to rise, you may be facing difficult decisions on how to spend your money. We may be able to help you with short-term financial support, including heating and foodbank vouchers.
You may not be receiving all the benefits you are entitled to. Our expert team can work with you to apply for the right support or challenge decisions to reduce or stop your benefits.
Our Income team are ready to help you. They can provide rent balances and help you manage your rent, including providing payment plans if your situation changes. Call us on 0330 128 0330.
Free support and wellbeing service
We’ve funded a new Tenant Support and Wellbeing Service (TSWS) that’s free for you to call 24 hours a day, 365 days per year, to talk about anything you might be struggling with, including stress & anxiety, mental health and debt & budgeting advice. Anything you discuss with the service DOES NOT get shared with or passed onto Eastlight. This service provides 100% confidentiality.
If you cannot afford to buy enough food, there will be a foodbank in your local area. Organisations including Eastlight can provide vouchers.
Please remember, you will not lose your home if you cannot pay your rent, as long as you work with us to manage any arrears you have.