Target rent is the standard rate that is applied to each type of property, and increases annually in line with Welsh Government Policy. The target rent values are based on information such as affordability and average local earnings.
As a legacy of our stock transfer status, some of our rents currently vary between the same types of property. We are not moving all customers to this amount of rent straight away, instead we are phasing in the changes over several years. As rents currently vary between the same types of property, we will be doing it in the same fair way over time.
Our rent policy aims to be simple, fair, easy to understand, and follow Welsh Government rules. The policy calculates a target rent based on the number of bedrooms, the type of property, and if it is in North or South Torfaen. This has helped us to decide the rent that you should be paying.
Not everyone is at their target rent yet. Some people may be paying more or less than they should.