📢 Sustainable Rent Policy Update for SEARMS Owned Portfolio
Posted on 29 Jul 2024
SEARMS has taken on feedback on its housing and rent setting policy. This has been updated to clarify how and to which properties it applies.
For existing tenants in our older stock – most will now come under the Sustainable Rent Setting Policy.
🔄 New Sustainable Rent Policy:
This policy applies to existing tenants in our older housing stock. The way the sustainable rent is calculated used actual and forecast costs. We acknowledge the cost-of-living burden on our tenants and try to balance the increasing costs of owning and managing the housing portfolio so that:
- It is sustainable for our tenants,
- We can keep on top of tenancy and housing management; and
- We can keep properties in good condition requirements.
🤝 Major benefits to You:
Households are NO LONGER required to submit all income for registered occupants over 18 years of age
- Rent setting process is based on the actual and forecast costs of managing tenants and properties
- Rent setting process is reviewed annually
- Any revised rents will apply from 1 July 2024 to align with any wages/benefits CPI increases and is capped at no more than $20 per week increase
- Higher income earners are INCLUDED in the sustainable rent policy
🤝 Our Commitment to You:
We understand that any talks in relation to rent or rent adjustments can be concerning. While most tenants will be receiving a reduction from the notified rent under the old policy, our team is here to support you and answer any questions you may have during this transition.
📅 What’s Next?
In the coming days, you will receive correspondence by mail, SMS and email. There will also be an invite to a community BBQ so that we can provide more information on the Sustainable Rent Setting policy. Please keep an eye on your inbox and our official communication channels for updates.
You can read the policy here
For any queries or to arrange a face to face appointment, contact us on 1800 138 425 or admin@searms.com.au