How much will I pay?
The rent you pay will vary depending on the Cost Rental development. Your rent will be at least 25% below private market rents in the area of the development. Initial rents for Cost Rental tenancies are set based on the calculations of the costs of providing the homes over 40 years. Your Cost Rental tenancy agreement may include information about how often your rent will be reviewed. However, the rent cannot be reviewed within 12 months of the start of the tenancy and not more than once every 12 months after that. You will get notice of a rent review and this notice will contain specific information about the new rent. If you have a dispute about the new rent, you can bring this to the Residential Tenancies Board within 28 days of getting the rent review notice.
