Topics : RentsA matter of choice? RSL rents and home ownership: a comparison of costsIn the past RSLs have tended to compare their rents with those in the private rented sector to ensure competitiveness. Yet in some parts of the country there is now little difference between the weekly costs of home ownership at the bottom end of the market and renting from RSLs. Given the preference for home ownership and the recent expansion in the sector, this has implications for RSLs who may find themselves facing problems in terms of marketing and maintaining balanced communities. This Sector Study examines the gap between the weekly costs of home ownership and RSL rents over the last decade and how this varies across the country and the implications for RSLs when setting their rents. Comparative analysis of private and social sectors’ rates of returnThese papers compare the findings on RSL sector and the private rented sector to provide a clear picture of the extent to which rent and rate of return differentials vary by area, type, etc. Comparing the Costs of Owner Occupation with RSL Rents: A Geographical AnalysisThis study examines changes in house prices, RSL rents and the comparative costs of low cost home ownership and RSL renting over the decade 1989/90 to 1998/99. A simple comparison using house prices is not sufficient because even when house prices are rising, the weekly costs of a mortgage and insurance may be falling. The study shows that in some areas it is as cheap to buy a house at the lower end of the market as it is to rent from an RSL. At the other extreme, there is a growing group of households who are not eligible for assistance with their housing costs, yet cannot afford to rent or purchase in the private sector. RSLs need to look at the weekly costs of owner occupation as well as comparing their own rents with those in the private sector, the local authority sector and other RSLs. Detailed analysis of the current pattern of RSL rentsAs a baseline of reviewing the rent restructuring regime of 2000, this paper will analyse the current pattern of key variables for registered social landlord (RSL) rents at detailed geographical levels. This paper will also assess the current RSL rent patterns in terms of size effects and local effects. Estimating Rates of Return on Private Sector RentsThe original reason for this research was to assess the extent to which it would be appropriate to use lower quartile house prices as a surrogate for private rents in regional and local analysis in the light of the difficulties in obtaining Rent Officer Service data on the rents they determine for Housing Benefit purposes. Since the work was commissioned it has proved possible to obtain these data directly so the need for a surrogate is obviated. However the more fundamental issues of tenure choice among lower income households and the extent to which the two sectors act as substitutes in different markets remain as do the questions of whether the processes of rent determination for tenants on Housing Benefit distorts outcomes in different markets. Estimating Rates of Return on Private Sector Rents: 1996/97 to 2005/06This paper will analyse the relationship between private sector rents and house prices in order to examine the viability of the sector in that rents are the only form of return available to the private sector landlord. Estimating Rates of Return on Social Sector RentsThis paper will analyse the relationship between social sector rents and house prices in order to examine the viability of the sector in that rents are the only form of return available to the social sector landlord (unlike in the private sector where capital gains are relevant). Getting Rents RightThe main purpose of this study was to assess the use of the Continuous Recording system of lettings and sales (CORE) by RSLs as a tool to use when measuring affordability. The study aimed to determine how RSLs take account of affordability in their rent setting policies, to clarify which factors should be taken into account to achieve affordability, and to assess the potential of CORE and other data to assist RSLs in setting affordable rents. The analysis found that current practice among RSLs is often limited to qualitative understanding or to the comparison of rent levels with those of other RSLs. There is little clear guidance on the definition of affordability and a lack of appropriate incomes data. This hampers RSLs' ability to assess the affordability of their rents. Much can be done using existing data sources, particularly CORE data, which will remain the most important source of incomes data. Finally, monitoring affordability at the local and individual RSL level will remain important even if Government recommendations on rent determination are fully implemented. Guide to Local RentsGuide to Rents, Parts I, II and III: together these publications provide the data to undertake comparisons of rents geographically for all three rented sectors, between individual HAs and between individual LAs. A summary of the key findings from the data are provided with the data tables. Part I includes cross tenure rents for LAs. Parts II and III include HA rent levels for individual HAs both nationally and locally, for general needs and supported housing respectively. The Guide also includes information about HA target rents. Housing Association Rents and Service Charges for Supported Housing and Housing for Older People.Average housing association rents and service charges for the combined categories, supported housing and housing for older people (supported housing /HOP), by local authority area were collected by the Housing Corporation for the first time in 2005. This project looks in detail at these figures. Housing Association Service Charges and their Relationship to RentsUnderstanding the relationship between rents and service charges is important for all stakeholders in the HA sector. Tenants need to budget for their housing costs by understanding what elements of those costs relate to rent and service charges and which elements of these costs can be met from housing benefit payments. HAs must determine their overall incomes in such a way that costs can be covered from this income. This paper aims to clarify the relationship between service charges and gross and net rents; and how they vary between different property sizes, areas and types of housing association (HA) - Large Scale Voluntary Transfer (LSVT) HAs, Black and Minority Ethnic (BME) HAs and mainstream HAs. Registered social landlords and changes in rentThe third annual analysis of registered social landlords' performance in limiting rent increases. It is also the first in the series of Sector Studies (Research and Good Practice). RSL Rents: Evidence from the Existing Tenants Survey 2000: Dataspring Discussion Paper 6This report draws on the Existing Tenants Survey to examine rents in the social housing sector. Variations are primarily explained by size of dwelling and location, with rents in London highest, and set to rise further to meet target rents. However, there are also differences between new and existing tenants and working and non-working households. The authors note that local average rents should be treated with some caution as the survey points to considerable variation in the rents faced by individual tenants within local areas. Target RentsA series of papers looking at rent restructuring and housing association movement towards target rents. |
