Rent Review
What is the Rent Review?
Do you need us to help make your rent review letter more accessible?
Do you have further questions?
Customer Support Fund
If you have any questions about the changes to your rent or have concerns about paying your rent due to financial difficulty, please follow the link below for our customer support fund page.
Rent Review FAQs
All customers will see rents increasing by the terms stated in their leases. The amount you will be paying from 1st April 2024 will be confirmed to you by letter sent to your home address on the 1st March 2024.
Your Shared Ownership lease explains how your rent is reviewed and increased each year. This is specific to your individual lease and your new rent is calculated using the Retail Price Index (RPI) as published by the Office for National Statistics (ONS).
The RPI figures can be viewed on the Office for National Statistics website using this link.
You lease will state that the increase in your rent is calculated using the RPI figure from two separate dates.
A worked example is below:
The RPI for September 2022 was 347.6.
The RPI for September 2023 was 378.4.
The ratchet amount is 0.005.
The new monthly rent is therefore calculated as: currently monthly rent amount x (378.4/347.6) + 0.005))
Heylo do not set your service charge. This is done by the managing agent for the estate that you live on.
If service charge or estate charges is applicable to your property we will use the most recent budget and demands from the management company on your development to calculate the monthly recharge.
The figure reflects your share of the management company's estimated cost to provide services on your development or estate.
Your monthly payment is 1/12 of the current annual budget set by the management company.
You may receive demands from and make payments to the management company directly. If this is the case there will be no recharge or payment due to Heylo as part of your monthly charges and you should continue to pay the management company directly.
If you have any questions about the services being provided by your management company or details or what your payment cover, please contact them directly in the first instance as they will usually be best placed to answer any queries. You can also raise these queries with us, but we may need to refer them to your managing agent first for a response.
A resident hardship support fund has been set up to support our customers who are experiencing short term financial difficulty. Further details on eligibility and how to apply can be found below: