Cloch Housing Association unveils 1.3 per cent rent increase
The Association said it has managed to arrange its finances so that it can maintain all current services and introduce proposed improvements to its properties without adopting a higher increase level.
Housing services manager, Andy Thomson, said: “Every tenant will now receive a letter confirming that our management committee approved the increase at its meeting on 19th January 2016.
“We consulted on proposals to increase rents by 0.8 per cent, 1.3 per cent or 1.8 per cent. This was equivalent to the September’s (RPI) rate of inflation, plus 0.5 per cent and plus 1 per cent respectively. We received a variety of feedback however, which prompted the committee to think very carefully about what such a rise would mean for residents. It was also considered that inflation is also on the rise, currently at 1.2 per cent.”
Mr Thomson added: “The views of tenants were split almost evenly however, most respondents to the Association’s consultation supported a rent increase of either 0.8 per cent or 1.3 per cent; the committee noted that whilst many household costs continue to rise at levels greater than inflation, not all tenants had experienced an increase in their income at the same rate. The committee also noted that a high percentage of respondents to the Association’s rent increase survey agreed that their current rent represented good value for money (79 per cent).”
Having weighed up all the issues, including the duty to ensure that the Association would remain viable and could maintain its commitments, the committee approved a budget which allowed for the mid-level increase at 1.3 per cent - 0.1 per cent above current inflation.
A total of 76 responses were received to the consultation and the responses can be found on the Association’s website.
All tenants who completed the survey were entered into a draw for a £50 shopping voucher and we are pleased to announce that the voucher was won by: Mrs L Swan of Roxburgh Street, Greenock.