ARCH has submitted its response to the MHCLG consultation on How to Implement Rent Convergence.

ARCH’s response argues that, where tenants are paying below-formula rents, councils should be permitted to increase them by an additional amount of up to £3 a week each year until the formula rent is reached.  This will ensure that all tenants can expect to pay similar rents for similar properties and yield £1.8 bn in additional rent income over the next 10 years to help improve existing council homes and build new ones.

Read the full response here: How to implement rent convergence – ARCH response