Understanding rent and service charges

 

What does your rent cover?

This depends on whether you’re a tenant or a homeowner.

If you’re a tenant, the rent you pay will usually include:

We review most tenants’ rents every year in line with government policy on rent setting. Tenants whose rent is set by the Valuation Office Agency, have their rent reviewed every second year.

If you’re a shared owner, your rent covers a contribution towards the cost of developing your home. It’s based on the value of the rented share and is adjusted each year in line with the formula in your shared ownership lease.

 

 

What’s a service charge?

A service charge is the money residents and leaseholders pay for the cost of services and repairs to communal (shared):

  • Parts of their buildings
  • Areas outside their buildings and on their estates

For example, if you live in a block of flats with a communal garden, your service charge goes towards covering the cost of maintaining it. This is because the garden’s an area that’s outside your flat and available to all residents to use.

If you live in a house, on an estate that MTVH manages, you may have to pay for the upkeep of your estate’s communal areas. Examples of what you may be charged for include: sweeping footpaths, litter picking and gardening in communal areas.