Setting the rent

At MCM Housing, our goal is to set the rental costs for our properties at a level that ensures affordability for young people. We strive to strike a balance where the rent amount allows us to continue providing housing that remains within your means.

Before offering you a tenancy, we will determine the market rent for the property and ask you some questions about your financial situation. We use this information to set the rent, so you will know in advance how much you’ll be expected to pay.

You can choose to pay your rent every week or every two weeks. If you get paid once a month, we'll make sure your rent payment fits with your monthly income. We want to make it easier for you to manage your rent payments.

How we determine your rent

In community housing, there are different ways to determine the rent you pay. At MCM Housing, we choose to set the rent based on whichever is lower:

• Income-based rent: We consider your household income and set the rent accordingly. This ensures that the rent amount aligns with your financial situation.
• 75% of benchmark market rent: We look at the market rent for similar properties and set the rent at 75% of that amount.

Additionally, when calculating the rent, we include any Commonwealth Rent Assistance you may be eligible for. This is a financial support program to assist with community housing rental costs. There is also an option to apply for a rental rebate, which is a sort of ‘discount’ off the market rent. If you want to know more about how to apply for a rental rebate, keep reading below for further information.

You can view our rent setting policy here.