Easthall Park announces rent increase of 2%
The community controlled organisation determined that the rent increase was necessary to ensure it can continue to invest and improve in its stock, repay the private finance borrowed over the years to build new homes, and deliver the services required to support tenants to adapt to what it recognised as challenging times.
All Easthall Park tenants will receive a letter over the next couple of days explaining why the rents had increased and what it personally means for them.
Meanwhile each tenant who responded to the rent consultation will receive an individual response to thank them for taking the time to complete and return survey and we will answer any queries they raised.
In 2017/18, Easthall Park aims to spend approximately £512,000 on day-to-day repairs and cyclical maintenance. In addition it plans on spending approximately £807,000 on planned investment work.
Easthall Park said: “We do recognise many of our tenants are experiencing difficulty with low or stagnant wages and benefit changes. Accordingly, our management committee has limiting annual rent increases as a key business priority and we want to help our tenants afford their rent.”