PI's: Average Affordable Rent
Rents: Average Affordable Rent
SWBM 060: Average Affordable Rent
Rationale, Definition & Worked Example
Below you can find information regarding the rationale, definition and formula for this performance indicator. This includes a worked example to demonstrate how this indicator should be calculated.
Rationale
Average Affordable Rent provides a clear view of rent levels for Affordable Rent properties, supporting comparison across providers and helping assess affordability, rent setting and income generation within this tenure.
Definition
Taken from your rent level records as at 31 March for Affordable Rent properties.
Numerator is the Net rent excludes service charges for the last week of the year. Denominator is the number of properties this relates to.
Numerator is the Net rent excludes service charges for the last week of the year. Denominator is the number of properties this relates to.
Formula
Total net rent for Affordable Rent properties ÷ Number of Affordable Rent properties
Worked Example
Total weekly net rent for Affordable Rent properties = £60,000
Number of Affordable Rent properties = 300
Calculation:
£60,000 ÷ 300 = £200.00