While the rent cap consultation has required many Registered Providers to re-examine their business plans and stress testing, its eagerly awaited outcome will still leave a key decision to be made for many Boards – what to do about shared ownership rent increases in 2023 (and beyond)?
Choosing not to implement a full increase could have a significant impact, but with the current cost of living crisis there are clear concerns about the moral and commercial implications of doing so.
There are a number of options available to Registered Providers, including applying waivers and expanding (and streamlining) hardship funds. However, these options need careful consideration to ensure your organisation is meeting its charity law and regulatory obligations, as well as taking account of wider issues such as consumer credit and meeting grant and lease requirements.
Join us to discuss this complex landscape.