Consultation response – How to implement social rent convergence
CWAG and the NFA have submitted a joint response to the government's consultation on how to achieve rental convergence. Our response supports the proposal for a £2 per week additional rent increase that will achieve convergence for most landlords within the 10-year timeframe of the current rental settlement. The consultation response was supported by analysis from Savills which modelled the impact of different convergence scenarios on HRAs at a national level.
The response highlights that although extremely welcome, the long-term rent settlement and convergence will not fund everything that the government wants to see the sector deliver and additional resources will be required for new development and any new requirements arising from the proposals in respect of changes to the Decent Homes Standards, energy efficiency requirements and the long-term decarbonisation of homes.