What your rent pays for
One of the most asked questions we receive is "What does our rent pay for?" Well, now you can find out.
Your rent helps to pay for many of the services you receive from us. And as we're a not-for-profit organisation, it means all the money that's left over after we've paid out everything we need to, goes back into your homes through improvements and repairs, building new homes and investing in services like neighbourhood coaching to help you get the most out of life.
Using figures from the last financial year, April 2017- March 2018, we've put together the colourful chart below to show how each pound we receive is spent on providing services.
For each pound spent 17p goes towards repairing and maintaining our customers' homes, while 13p pays for the improvements we make to homes, such as installing new kitchens, bathrooms, windows and doors.
Last year we invested 29p helping to build new homes; helping new and existing customers to find the ideal home for their families.
15p goes towards our interest bill and the repayment of the loans used to pay to build your home.