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Proposed Annual Rent Consultation 2023/2024

Our proposals

Rent Charges

We set our rent in line with the Governments Rent Policy.  This year the Government have set a cap on any rent increases of a maximum of 7% rather than the standard of Consumer Price Index (CPI) + 1%. Last year this would have meant a 4.1% rent increase, however following consultation Cabinet Members agreed a 2% increase to assist with the cost of living for you.

We recognise what a difficult period this continues to be, and we are proposing to increase rent charges by 5% rather than 7%. This would mean on average a weekly increase of £3.69.  By increasing this amount, we believe we will be able to balance protecting you from high rent charges whilst ensuring we can invest in new and existing homes for you.

If the proposal is agreed this will mean the average rent will be increased as follows:

Year

Average Social Rent

Average Affordable Rent

2020/2021

£73.12

£82.91

2021/2022

£73.11

£83.62

2022/2023

£75.01

£92.06

2023/2024 (proposed)

£77.34

£86.66

Please find further information in our Rent Consultation leaflet [pdf document]

What do we spend your rent money on?

It is extremely important that we provide you with a safe and secure place to live and somewhere you are happy to call home.  We are committed to ensuring that the homes you live in are warm, comfortable, and efficient.

Throughout 2022/23 we have improved the energy efficiency of our homes through the installation of double glazing, loft insulation, solar panels and heating replacements and upgrades. For 2023/24 we have an ambitious plan to continue improving your homes including:

  • £1.225m for heating system replacements
  • £1.4m for windows and door replacements
  • £2.76m for kitchen and bathroom replacements
  • £1.0m to deliver energy efficiency measures to tackle climate change

Full details of what we plan to spend on can be found at on ourcouncil democracy/agenda website.

Feedback

Your comments and views are important to us so let us know what you think.  Please let us know what you think about our spending and rent increase proposals by:

The consultation ends on 6th January 2023.

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