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We have recently reviewed and tested the affordability of the rents and service charges we currently charge and are extremely pleased to announce that every single one of our rental charges are passing the affordability criteria.
The measure we have used is a tried and tested, popular and widely used affordability model developed by The Joseph Roundtree Foundation which states that rent is affordable if it is no more than 28% of a tenant’s income or 33% of the income if a service charge is also charged.
Naturally, we don’t have details of all our tenants’ income, therefore, we have used the Real Living Wage to calculate this as we feel that the majority of our working tenants will be earning this rate of income given the Welsh Government’s drive to pay staff the Real Living Wage.
We are extremely pleased to be sharing this news, but we need to know how does this feel for you? Is our assessment something shared by you? We are very eager to have your opinion on this and on the services you receive from North Wales Housing through answering survey below. North Wales Housing tenants completing the survey will enter the prize draw!