Why is my rent increasing?
MSV’s rents are set using government guidelines which means some customers will see an increase in their rent from 1 April 2024.
You will receive a letter from MSV in February which sets out your new rent.
Some customers also pay a service charge, so any changes to the amount you pay for this will also be detailed in your letter.
How is my rent increase calculated?
Most customers will receive an increase to their rent of 7.7%. This increase will happen on 1 April 2024.
To calculate the amount your rent will increase by, we use the Consumer Price Index, plus 1%. We always try to keep any increases to a minimum, but it’s very important we maintain the quality of your home and the services you receive.
What is the Consumer Price Index?
This is the figure used to measure inflation. It reflects how much the price of common goods and services change over time.
I receive Universal Credit, so how will this affect me?
You don’t need to complete a new claim with the Department for Work and Pensions. Once we write to them with details of your new rent, Universal Credit will prompt you in your journal after 1 April. You can let them know at this point details your new rent and service charge.
Do I have to adjust my direct debit with my bank?
No, your direct debit will be adjusted automatically and you will receive notification from Allpay once this has happened.
What if I’m struggling to pay my rent?
Please don’t worry, get in touch with us as soon as possible if you are struggling to pay your rent and we will work with you to help you maximise your income and make your money go further.
