Progressive Rent – Strategic Policy
There are 3 purposes of our rental structure:
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Costs will be allocated per rented property in each development to help determine the minimum rent per property. The rent will be expressed as
xx number of hours per week @ the minimum wage.
By specifying the minimum rent in MWH (minimum wage hours) allows for focus on ensuring those on the lowest incomes can afford to rent our property.
We believe in equal value of labour to achieve a fairer society, and so we will assess an hourly rate for each tenant in order to work out their rent, expressed as
xx number of hours per week @ £x per hour.
There will be due consideration for the self-employed, multi-jobbing, those living on savings and additional adults in the property.
Minimum rents will rise with the minimum wage or inflation.
An annual review will be undertaken or on request from a tenant.
It is imperative that, overall, rent provides a contribution to bolster our ability to provide more low rent eco housing to as many as possible.