Housing Ventures Trust

Rent Standard

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Under the requirements of the regulator's standards, South Tyneside Housing Ventures Trust is required to:

Most rents are set under the Homes England affordable rents policy. Property rents are set at up to 80% of rents charged by the private sector for similar properties in a similar area to ensure that properties are affordable for tenants.

During 2017/18, the weekly average general needs rent was £100.12 and the weekly average service charge was £3.40 per year. Net rental income for the year was £1,500,350 which is an increase of £760,544 on the previous year. This is due to new properties being added to the housing stock which increases the organisation's income.

Housing Ventures Trust has agreed a 30-year business plan which shows the long term confidence of the company. Due to our significant investment, the Company will show losses for the first 10 years of its existence but will start to produce annual surpluses during that time with the Company moving into an overall break-even after 10 years. All surplus money which is generated will be reinvested into properties and neighbourhoods.

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