The report sought the recommendations of the committee on the proposed rent and service charge levels for 2022/2023.

The recommendations would be considered by Policy, Resources & Economic Development Committee when the final recommendation would be made as part of the budget setting process. The final decision would be made by Ordinary Council on 23rd February 2022.

A motion was MOVED by Cllr Mrs Pearson and SECONDED by Cllr Mrs Hones to agree the recommendations in the report.

Following a discussion a vote was taken and it was RESOLVED that:

Members are asked to:

1.    Increase rent by CPI plus 1% (Total 4.1% increase) for Social and Affordable Housing Properties. 

2.    Increase Shared Ownership and General Fund Property Rents by CPI plus 1%, 

3.    To apply formula rent to all new tenancies from April 2022

4.    To apply a 2% increase to Garage Rents

5.    To note that service charges have been reconciled and charges have been increased or decreased so they are brought in line with actual costs and that no increase will exceed CPI plus 1%.

Reasons for Recommendation

The recommendation is to follow government guidelines which proposes to increase rents by CPI plus 1%, for 2022/23 this is 4.1%

This increase to rents is a welcomed one, allowing the HRA to have certainty around rent setting and it’s forecast Business Plan.

The proposed increase will contribute to funding the current services provided as well supporting the development of the capital programme and housing development plans.

When considering the rent setting the following assumptions have been considered:

· The financial viability of the HRA business plan

· Provision for the repairs & maintenance capital programme

· Development for new homes in the borough

· Affordability for tenants

· Investing in services to the tenant receives the best service delivery.