The council’s Cabinet agreed to an increase of 2.7% for the next financial year, during their meeting on 12th February. The increase is in line with Welsh Government’s rent setting policy and will also see a reduction from the previous year’s increase of 3%.
Plans were also agreed to undertake an exercise to consider tenants’ affordability when setting future rent increases, in line with rent setting policy.
Cllr Lisa Phipps, the council’s Cabinet Member for Homes, Places and Tourism, said “The council is committed to keeping rents affordable for tenants, with annual increases set in line with Welsh Government policy. The 2.7% increase places our average weekly rent at £90.65, which is still within the low end of the envelope.
We are, however, aware of the financial pressures many of our tenants face and will be supporting them in a number of ways including assisting with managing their tenancy, improving the condition and running costs of their homes and looking at more efficient ways of operating.
If rents are not increased annually this has a detrimental effect on the delivery of housing related services, investment in the housing stock and the housing business plan. It could also result in additional borrowing, which will in turn increase debt charges, and ultimately lead to the council having to review the services currently being delivered.”