To create a new rent cap

The procedure to create a new rent cap is as follows:

1. Navigate to Quick Menu > Rents > Configuration > Rent Capping. The Cap Details window is displayed.
2. Click on New Cap. All fields are activated ready for data entry.
3. Enter a Description for the rent cap into the field provided 1.
4. Using the Companies drop-down field, multi-select all companies for which this rent cap is relevant, or choose the All option, as required 1.
5. Using the Charge Type drop-down field, select an appropriate parameter value for the rent cap e.g. Standard Rent Charge, Protected Rent Charge, Affordable Rent Charge, etc.
6. To apply a cap to standard rent only, activate the tick box provided and select the corresponding parameter using the Cap to standard rent type drop-down field. Proceed to step 8.
7. Alternatively, using the Cap to charge type drop-down field, select a parameter value from the filtered list appropriate for the rent cap 2.
8. Enter the Percentage cap value into the field provided i.e. a decimal between 0 and 100.
9. Using the Cap apportionment type drop-down field, select an appropriate parameter value for the rent cap e.g. All Elements, Specific Element.
10. Choose an Effective from date for this rent cap i.e. the date on which it came into effect 3.
11. Choose an Effective to date if the rent cap is to be reviewed on a specific date or to capture a change of circumstances; a blank field means the cap will be continually valid.
12. Click on Save. The new rent cap is displayed in the alphabetical list 4.

Tip

1 Where only a small number of parameter values are not required, activate the All tick box first and then de-select individual items from the full list, as necessary; the All tick box will be automatically removed once an item is de-selected.

Note

1 System validation rules ensure that the description entered for each new rent cap is unique.

2 By way of example, where the target rent has exceeded the affordable rent, a cap may be applied to the target rent charge, the threshold of which is governed by the affordable rent charge.

3 The Effective from date defaults to the current system date and cannot be left blank.

4 To amend the details of an existing rent cap, select a cap from the alphabetical list (or type its name into the Search Rent Cap field) and repeat steps 4 through 12. By default the list is filtered to show Current rent caps. An alternative filter can be applied using the Select view drop-down field: Expired, Future or All combinations.

See related topics...

Rents capping maintenance overview

To assign a rent cap to a charge element

To remove a rent cap from a charge element