Rent Level Consultation 2024/25

We asked tenants, tenants and residents groups and ELTRP for their view on our proposals to increase rents.

The Council know that decisions they make about tenant's rent and how we spend the money we collect is extremely important during these challenging financial times.  Striking a balance between keeping rents affordable and being able to maintain services for our tenants is important for the Council and more vital than ever before.

With this in mind the Council consulted on three options for a rent increase, 5%, 6% or 7%.  Explaining the effect each of these options would have on our housing service.

Of those who responded:

89% were happy with the level of consultation and information they get about the annual rent increase.

82% said they thought the rent they pay is good value for money.

86% opted for a 5% increase

11% for a 6% increase

3% for a 7% increase.

All the feedback received was added to a report to inform the Elected Members of the outcome of the consultation.   Taking all of this into account, the rent level for 2024/25 was agreed at a meeting of the Council on 20th February where Councillors agreed to a 7% rent increase from 1st April 2024.   This is the only feasible option if we want to continue to improve our existing stock and meet our statutory requirements.

We will write out to all our tenants informing them of the outcome and the planned increase to their rent charge for 2024/25.