Atrium Board approves low rent increase

Atrium HomesKilmarnock-based registered social landlord Atrium Homes has announced a rent increase of just 1.5% from April 2017 following formal consultation with its tenants.

The three options presented to tenants for their views ranged were all below the current rate of inflation and opinion varied between respondents on the preferred increase.

However, after weighing up the responses and considering the business needs and plans for the short and medium term, Atrium’s Board felt an increase of 1.5% represented the optimum balance.

The Board also took a decision to extend its Rent Policy (based on points, which in turn reflect property characteristics) to newer built properties to bring them into line with the majority of its housing stock. The outcome is a much more straightforward and easily understood rent structure.

Many new build properties will have rent reductions but some larger properties will require larger increases to achieve the correct rent charge. An annual cap has been placed on such increases to mitigate the effect for individual tenants.

Jim O’Neill, chairman of Atrium, said: “We’re confident this is the right outcome for tenants. It represents a balance between affordability to tenants but allows Atrium to continue to deliver excellent services. We’ll be writing to all our tenants very soon to notify them of the changes and the new rent for their property.”

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