Letter to registered providers - 2023 Rent Standard
Published 16 February 2023
Applies to England
© Crown copyright 2023
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Dear colleague
2023 Rent Standard
We have today published on our website the 2023 Rent Standard.
The government published a revised Policy Statement on Rents for Social Housing on 14 December 2022, which sets out the approach all registered providers must take to implement rent increases in 2023/24. The government has directed the regulator to issue a new Rent Standard to reflect this (Direction on the Rent Standard 2023).
The 2023 Rent Standard confirms the following:
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A 7% ceiling on the annual increase of rent for low-cost rental accommodation (for both social and affordable rented housing) in rent periods that begin in the 12 months from 1 April 2023 to 31 March 2024.
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The 7% ceiling does not apply to the calculation of formula rent or the rent cap that applies when social rent properties are first let or relet; these continue to increase by CPI plus 1 percentage point and CPI plus 1.5 percentage points, respectively.
Supported housing is not covered by the 2023 Rent Standard. For supported housing, registered providers should ensure they continue to comply with the 2020 Rent Standard.
Registered providers must comply in full with the provisions of the 2023 Rent Standard and, where applicable, the existing 2020 Rent Standard.
Yours sincerely
Fiona MacGregor
Chief Executive
Regulator of Social Housing