What is the target rent for 2023?

Bron Afon Rent Policy

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.

Target Rent Levels

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.

You can find the updated target rents for each property type in the following tables:-

2023/24 Rent Target Over 50 Weeks (Rent increase of 6.5%)

The communities in the North are:

Abersychan, Blaenavon, Garndiffaith, Penygarn, Pontnewynydd, Pontypool, St Cadocs, Talywain, Trevethin, and Varteg.

The communities in the South are:

Coed Eva, Croesyceiliog, Cwmynyscoy, Fairwater, Greenmeadow, Griffithstown, Henllys, Hollybush, Llantarnam, Llanyrafon, New Inn, Northville, Oakfield, Old Cwmbran, Ponthir, Pontnewydd, Sebastopol, Southville, St Dials, Thornhill, Two Locks, Tŷ Canol, Upper Cwmbran, and West Pontnewydd.

Not Everyone is at Target Rent Yet

As a legacy of our stock transfer status, some of our rents currently vary between the same types of property and might not match the target rent set out in the tables above. Our aim is to move all customers to the target rent for their property type, and to do it in a fair way over time by phasing.

The Rent You Pay

Our rent increase this year is 6.5% from April 2023, in line with the Welsh Government rules.

We recognise that this is a financially difficult time for everyone, and our increase in 2023/24 is below the current rate of inflation to reflect that.

We have used our rent policy to work out what you should pay based on your existing rent, and your target rent (see tables above). You will see an increase of up to £2 per week over the 6.5% if you are below the target, and if you are above, you will see a decrease of up to 87p per week. These levels are set to ensure the effect on Bron Afon’s finances is neutral, and to help ensure the long-term financial sustainability of the organisation.

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