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Rent Setting 2014/15

Rent Setting 2014/15. ● Last year of ‘Rent convergence’ (Retail Price Index + 0.5% + convergence amount) ● From 2015/16 Govt. recommends rent increases by Consumer Price Index (CPI) +1%

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Rent Setting 2014/15

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  1. Rent Setting 2014/15 ● Last year of ‘Rent convergence’ (Retail Price Index + 0.5% + convergence amount) ● From 2015/16 Govt. recommends rent increases by Consumer Price Index (CPI) +1% ● Self financing gives the council the freedom to set rent as it wants, but must consider long term effect of decisions

  2. Recommendation ● CPI (2.7%)+ 0.5% = 3.2% ● Average weekly rent = £87.49 ● Average weekly increase = £2.66

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