To help it continue delivering housing related services and invest in tenants’ homes, an increase of 6.7% has been agreed. This will increase the current average rent by £6.68 per week from £99.72 to £106.40 per week over 52 weeks.
This increase is in line with Welsh Government rent setting policy and it is estimated Caerphilly Council’s rents will remain in the lowest quartile for rents across local authorities in Wales; meaning that they stay affordable.
Around 77% of the Council’s tenants are in receipt of housing benefit / universal credit, which means the increased costs for this group will be covered up to the housing benefit limitation rate.
Councillor Shayne Cook, the Council’s Cabinet Member for Housing, said “Annual rent increases are necessary to ensure we can deliver services, maintain, and improve tenants’ homes. If rents are not increased annually, this could lead to additional borrowing and debt charges; forcing the Council to review services.
“We understand that any increase in rent will be of concern and assure tenants that we have a range of support available to tenants who find themselves experiencing financial difficulties.”