Rent increase 2024
This year, most of our rents will go up by 7.7% from 1st April 2024. This is in line with a government formula that Housing Associations must use when setting rent. It’s really important you read your individual rent letter and understand what you need to do next. If you have any questions after reading your letter, please contact your Income Officer.
53-week year
If you’re charged weekly then you need to know that the financial year 2024-2025 is a 53-week year, instead of the usual 52 weeks. This happens every five or six years and means there are 53 chargeable Mondays. This additional week also applies if you have a 48-week tenancy, meaning that this year you’ll be charged for 49 weeks.
What do I need to do about the rent increase and the extra week?
If you receive Universal Credit, please update your online journal from the 1st April, and not before, with your new rent and charge amount. If you don’t do this, you could miss out on money you’re entitled to.
Universal Credit won’t pay for the additional 53rd week, and so you’ll need to pay the extra. This means you’ll notice that your monthly benefit will be slightly less than what you’re due to pay to us. If you have a Direct Debit in place, we’ll amend your payments automatically. If you pay in another way, you’ll need to make a payment plan to cover the difference and pay this gradually over the year.
If you receive Housing Benefit you need to let your local authority know your new rent amount, unless you’re with Reigate and Banstead Borough council, as we’ll let them know for you. You don’t need to wait until the 1st April to do this, so we recommend letting them know as soon as possible.
If you’re receiving full Housing Benefit, the additional 53rd week of the year will be paid for you. If you pay part of your rent, you need to make sure you’re paying your part of the extra week. If you have a Direct Debit in place, we’ll amend your payments automatically. If you pay in another way, you’ll need to make a payment plan to cover the difference and pay this gradually over the year.
If you pay your rent yourself please make sure you have a plan for paying the 53rd week. If you have a Direct Debit, we’ll make sure this is set up to cover the extra week, so you don’t need to do anything. If you don’t have a Direct Debit, please check your individual rent letter which shows what you need to pay from April in your usual way.
Regardless of whether you receive benefits or not, if you have a Direct Debit with us, you don’t need to do anything. We’ll adjust your Direct Debit based on your new rent amount and collect the additional week. We’re here to help if you have any concerns.
What if I’m struggling to pay my rent?
Talk to your Income Officer
If you’re finding things difficult, it’s always best to talk to us so that we’re aware of your circumstances and can offer the right support. Your Income Officer is at the end of the phone, or you can raise a request on MyRaven if you’d prefer to email.
Moneywise team
Let us know as soon as possible if you need support with budgeting, applying for benefits, benefit appeals or advice on reducing your bills. We’re here to help. This advice is free and confidential for all Raven customers.
This video explains more about the upcoming rent increase
This video explains what you need to do ahead of April
Get in touch
Call: 0300 123 3399 Email: raven@ravenht.org.uk Send us a message through your MyRaven online account.