PI's: Weekly Gross Rent
Rents: Weekly Gross Rent
GNPI 01: Average GN weekly gross 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 GN weekly gross rent provides a consistent measure of rental levels across general needs stock. It supports comparison between organisations, helps assess affordability and income generation, and provides context for arrears, rent setting and financial performance.
Definition
This PI calculates the average weekly gross rent as at 31 March for general needs dwellings owned and let on assured or secure tenancies.
The dwellings include those that are self-contained and non-self-contained (shared).
The dwellings include those that are self-contained and non-self-contained (shared).
Formula
The average rent figure is taken for the last period of the year – the last week if weekly charges are made or the last month converted to a weekly payment, if charges are monthly.
The gross charge includes rent, service charge eligible for housing benefit and supporting people charges.
Numerator is the gross rent, service charge eligible for HB and supporting people charge for the last week of the year.
Denominator is the number of properties this relates to.
The gross charge includes rent, service charge eligible for housing benefit and supporting people charges.
Numerator is the gross rent, service charge eligible for HB and supporting people charge for the last week of the year.
Denominator is the number of properties this relates to.
Worked Example
Total weekly gross rent (including eligible service charges) = £85,000
Number of General Needs properties = 500
Calculation:
£85,000 ÷ 500 = £170.00