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If your tenancy started after January 1989 you are likely to have an assured tenancy with us. As an assured tenant, your rent is set under the Government's rent-setting policy. This policy aims to make sure that:
We have to calculate a 'target rent' for each of the homes we own. The formula for the target rent has to take account of:
The actual amount you pay should be the same as your target rent by 2012. However, the maximum amount by which we can increase your weekly rent each year until we reach your target rent is the rate of inflation in September plus 0.5% plus £2.
After your target rent is reached, weekly rents may rise by no more than inflation plus 0.5% a year under current Government guidelines.
If your tenancy started before January 1989 you may have a secure (fair-rent) tenancy with us. As a fair-rent tenant, your rent increases once every two years and the independent Rent Officer has to agree the increase. Generally, the rents of our fair rent tenants are very similar to the rents of our assured tenants.