Agenda item

(a)  That the base rent for social rent tenancies (those whose rent is set using the rent-restructuring or ‘formula’ rent process) for 2023/24, excluding service charges, to increase by 7% with effect from Monday 3rd April 2023.

(b)  That the rent of ‘Affordable Rent’ tenancies for 2023/24 to increase by 7% with effect from Monday 3rd April 2023.

(c)  Garage rents, heating, utility and ancillary charges to increase by 7% with effect from Monday 3rd April 2023.

(d)  Service charges to increase by 7% with effect from Monday 3rd April 2023.

The Lead Member for Housing & Planning introduced a report that set out the proposed changes in housing rents and charges for 2023/24.

The proposed increase to dwelling rents was in line with Government direction on the Rent Standard for 2023/24 which capped rent increases to no more than 7%.  No such cap applied to garage rent, service and other ancillary charges, so a higher charge could have been applied, however it was recommended that they also increase by 7%.  Lead Members considered the option of a higher increase, which would generate circa £150,000 of additional income to the Housing Revenue Account, but agreed the 7% increase was reasonable taking into the account the sound overall financial position of the HRA and the priority to improve the service and provide value for money to tenants for the service charges.  Rising inflationary pressures, material costs and labour would need to be carefully efficiently managed.

The Cabinet agreed the recommendations.

Resolved –

(a)  That the base rent for social rent tenancies (those whose rent is set using the rent-restructuring or ‘formula’ rent process) for 2023/24, excluding service charges, to increase by 7% with effect from Monday 3rd April 2023.

(b)  That the rent of ‘Affordable Rent’ tenancies for 2023/24 to increase by 7% with effect from Monday 3rd April 2023.

(c)  That garage rents, heating, utility and ancillary charges to increase by 7% with effect from Monday 3rd April 2023.

(d)  That service charges to increase by 7% with effect from Monday 3rd April 2023.