Framework for Management of Tenancy Agreements
Tenancy types in Trinity Village
Trinity Village is home to more than 700 residents living in 271 properties. Most residents are tenants of Trinity House and rent their properties through a variety of contract types including Rent Act, long-leasehold, periodic, and tenancy agreements (previously Assured Shorthold Tenancies). By far the majority of the properties - c. 230 - are occupied by residents with tenancy agreements. The number of such tenancies is increasing: this is because as other types come to an end the new tenants of such properties are being issued with tenancy agreements.
Current rent review practices and challenges
Tenancy Agreements are issued on a six-monthly basis with a rolling two-months’ notice period. Rents are reviewed on an annual basis. Rent reviews are not set according to pre-determined criteria and as such there is no automatic, index-linked, rent clause in the standard contract.
In recent years, Trinity House and its management agent, Knight Frank, have demonstrated an evident commitment to fairness in their approach to lettings, particularly in realising the value of having reliable tenants and in recognising the benefits that result from encouraging the long-term stability of the community. The Trinity Newington Residents' Association (TNRA), a voluntary organisation that is formed by and for the residents of the Trinity Village, has welcomed and supported the development of this approach in the interests of its members.
This practice has meant that recent renewals of existing tenancies have overall proved to be below maximum market level rates and no renewals have directly, to our present knowledge, forced tenants to leave the estate. This is an important standard which we hope will endure in the long-term. TNRA is grateful to Knight Frank and Trinity House for these efforts at a time when renters in the city are increasingly facing an affordability crisis.
Working together for mutual benefit
TNRA, Knight Frank and Trinity House recognise and appreciate the positive impact that collaborative working has brought to the estate, making it a special place in which to live and work. Amongst other things TNRA particularly appreciates:
● Trinity House’s agreement to allow all residents access to the two garden squares as well as TNRA’s use of the gardens for community activities, notably the annual Open Garden Square, the Welsh Borough Choir, and Christmas Carols events;
● Knight Frank’s pro-active provision of specialist expertise that persuaded Southwark Council to abandon its plans to route all southbound Borough High Street traffic via Trinity Church Square to Harper Road;
● Trinity House’s funding for event logistics and set-up, without which key community engagement would not be possible.
Similarly, TNRA hugely appreciates the step change that has taken place since 2019. This has enabled us to meet regularly with both Trinity House and Knight Frank to discuss the management of the estate. This strong working relationship and accountability has enabled TNRA to provide objective information to those of its members who seek its advice concerning rent reviews and associated matters.
TNRA believes that it is in the interests of its members that it should continue to work closely with Trinity House and Knight Frank so as to assist in ensuring good practice and management on behalf of all residents. TNRA also believes that the application of fair and consistent policies and practices, which balance Trinity House’s obligations and tenants’ interests, is of benefit to all.
Advantages of a close working relationship
TNRA, Trinity House and Knight Frank believe that when rent reviews are undertaken on a case-by-case basis along with appropriate flexibility, such an approach proves to be a dynamic and effective tool. Such a collaborative approach also actively helps to avoid pitfalls and ensure the trouble-free and effective management of tenancy agreements.
Such an approach can also:
● optimise tenant retention, reducing voids and re-letting costs;
● maintain the long-standing spirit and unique sense of community that makes Trinity Village such a sought-after place to live.
Alternatively, a shift to a completely market-led approach will result in escalating rents, a high turnover of tenants and an erosion of the special appeal of Trinity Village.
Framework principles
TNRA’s proposals set out below are presented with the intention of representing the shared interests of all those concerned:
The long term interests of the Trinity Village community are best achieved and assured by maintaining the existing spirit of good faith, open dialogue and willingness to work together that is shared by TNRA, Trinity House and Knight Frank.
The continuing existence of Trinity Village as a vibrant, diverse and attractive place to live is best achieved when an appropriate balance is struck.
Where possible, optimising rather than maximising rents significantly assists in maintaining the valuable sense of stability and community that exists in Trinity Village.
Knight Frank and Trinity House have avoided a blanket approach to rent reviews. TNRA appreciates this approach and fully supports Knight Frank’s prerogative to review rents on a case-by-case basis, taking into account when appropriate not only a tenant’s proper care for his/her property and good faith but also his/her individual circumstances and contribution to the estate.
It is recognised that rent levels for properties that come to market will more directly reflect current market rates.
Transparent, timely and clear communication concerning tenancy agreements is essential. Standardised processes and procedures - including reasonable advance notice of proposed rent increases - also provide tenants with reassurance concerning the administration of their contracts.
Maintenance of properties will always be carried out in a timely fashion, without impact on rent reviews. Where redecoration or upgrades are concerned, rents may be reviewed.
Collective obligations
Trinity House, Knight Frank and TNRA make the following commitments in the belief that they will significantly help to maintain and develop the invaluable sense of cohesion, integrity and community that exists in Trinity Village.
The Knight Frank estate management team truly values all of its interactions with TNRA and its sub-committees. It is, and will remain, grateful for the collaborative relationship that it looks forward to continuing well into the future. On behalf of Trinity House, Knight Frank will in particular:
Uphold the prevailing spirit, principles and application of the provisions relating to the administration of tenancy agreements, especially where they concern rents and rent reviews.
Meet regularly with TNRA to review and discuss rents and property maintenance matters.
Discuss with TNRA, prior to implementation, any proposed changes to contracts, including those necessitated by government legislation.
For its part, TNRA will:
Engage openly, reasonably and in good faith when representing its members’ interests with Knight Frank.
Provide its members with transparent, consistent and objective information on rent reviews and associated matters.
Continue to encourage and initiate grassroots advocacy and organise social events on behalf of, and for the benefit, of the Trinity Village community.