How to use the workbook:

Social Rent

The Social Rent tab should only be completed where the development includes social rented properties.

Complete the following fields:

• Unit Type – Select each property type from the drop down list. All property types are in the format 2b4ph being 2 bed 4 person house
• Number of units
• Floor area
• January 1999 value – this is needed for the target rent calculation. Target rents are the maximum rents that can be charged and are calculated by a formulae laid down by the HCA. It is usual for an external valuer to give this value however an approximation can be obtained from Nationwide BS website using today’s values and discounting them back to 1999
• Open market value on completion of units – this will require a valuation from a qualified valuer, irrespective of whether the development is for social rent or for sale
• Rent increase on top of target – a +5% tolerance is allowed where social rented.  If you want to use that tolerance, enter a figure from 1-5% in that cell