Caledonia Housing Association approves 1 per cent rent increase
The board was consciously aware that the current economic climate remains very challenging for the Association and for its residents. Having considered all the options it felt that the increase struck an appropriate balance between maintaining sufficient income to deliver services, to invest in improving existing homes and to continue to develop new properties whilst, at the same time, keeping rents affordable and comparable with other landlords.
It was noted that the proposed Budget for 2016/17 included close to 35 per cent (£5.3 million) of rental income being spent on maintenance, including the regeneration of 70 properties at Newhouse Road, Perth, and building 80 new homes.
Taking account of all of these issues, the board decided to approve a rent increase of 1 per cent to take effect from April.
Caledonia said the approved rent increase was also one of the lowest across Scotland, continuing the trend that its rent increase has been at the lower end of the scale and considerably lower than the Scottish average.
The consultation saw 89 per cent of respondents say they felt their rent represented value for money.