Rent Reviews

Common Equity does rent reviews on behalf of most Co-ops as well as for tenants in direct managed properties. It is standard practice for everyone living in Co-operative Housing to pay 25% of their gross income up to a ceiling of market rent for their type of property. This sounds straightforward. 

Market rents should be reviewed yearly and should be calculated according to the Community Housing Rent Policy using data from the Department of Communities and Justice Rent and Sales Report. More than 98% of Co-operative Housing tenants do not pay market rent. Co-operatives have been undergoing this process lately, after interruptions caused by COVID-19 Rent reviews are conducted every six months. During this period tenants are asked to provide proof of income for the calculation of the rent. If you are employed, permanent or casual, you will be asked to provide four consecutive pay slips. 

If you are on a Centrelink benefit, you can opt to have Centrelink share your details with CENSW, which is an easy way to manage the process. You will need to give your permission for CENSW to do this through an ICS Form, which can be obtained from the Co-op Development Team. The calculation for Centrelink tenants is usually 25% of the primary benefit,25% of the energy supplement and 100% of the Commonwealth Rent Assistance (CRA) that you are eligible to receive. It should be noted that Co-operative Housing tenants are not eligible to receive CRA themselves. The Federal government gives CRA to the tenant which is then passed on to the Housing Co-operative. It is important to remember to always advise Centrelink when your rent changes as the amount of CRA may also change. Some Co-op tenants are self employed, have irregular or largely fluctuating incomes. For these tenants it is best to speak your Co-op Development worker to discuss what is needed for your circumstances. 

When your circumstances change you need to let your Co-op and CENSW know as soon as possible so that a new rent calculation can be done.  Source Common Equity Newsletter Aug 2023

Need more help? For assistance with assessing your income and any information about rent reviews you can contact the Co-op Development Team by emailing cdt [at] commonequity.com.au