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Any advice on setting rents?

Five Rivers Cohousing wants to include in its scheme some properties available for rent, including to those who may require Housing Benefit.
We'd appreciate some advice on how to detemine rents, We foresee rent as needing to be sufficient to service the loan required to build the property and also to cover esential repairs and maintentance. The debt servicing clearly depends on the cost of borrowing - hard to predict. We thought that 1% of the property value per annum should cover the repairs/maintenance costs. Does that seem reasonable? we'd particularly like to hear from any scheme that has experience of lettings. Thanks!

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