Rent Consultation Results for 2023/24
Rent Consultation results for 2023/24 rent levels
At the Management Committee meeting on Thursday 16th February 2023, Officers presented members of the Management Committee with the final results of the recent rent consultation exercise.
The basis of the consultation was agreed at the Management Committee meeting on Thursday 15th December 2022, where Officers presented committee members with the following documentation;
- Rent consultation summary and options appraisal
- Financial implications associated with each option
- Draft tenant information leaflet, as approved by our Tenant Focus Group
Members asked Officers to consult on the following;
- Option 1 – Increase rent by an average of 6%, with a two-year delay to planned maintenance; or
- Option 2 – Increase rent by an average of 7%, with a one-year delay to planned maintenance
The rent consultation opened on Monday 9th January 2023, closing on Friday 3rdh February 2023. All tenants signed up to the online portal, ‘My Tenancy’, received an electronic survey (120), with all other tenants receiving a postal survey.
Rent Consultation results
In total, there were 145 returns, a 59% increase on the rent consultation exercise in 2022. The results of the consultation were as follows;
Post | Online | Total | % of total responses | |
Option 1 - Increase rent by an average of 6% | 55 | 22 | 77 | 53% |
Option 2 - Increase rent by an average of 7% | 45 | 13 | 58 | 40% |
No response selected (comments only) | 8 | 2 | 10 | 7% |
Total survey responses received | 108 | 37 | 145 | 100% |
As part of the consultation survey, tenants were provided with an opportunity to identify concerns regarding affordability and request a follow-up discussion with the Association’s Financial Inclusion Officer. 11 tenants, equating to 8% of respondents, have been supported accordingly.
At the Management Committee meeting on Thursday 17th February 2023, members debated the proposed rent increase. It was acknowledged that whilst a 40% vote for Option 2 is significantly higher that previous survey results, underlining the value tenants place on the maintenance service, there was no appetite to go against the tenant feedback.
The management committee duly voted through and approved Option 1, that being a 6% rent increase with a potential two-year delay to planned maintenance. All tenants and sharing owners will receive written notification of their new rent and service level in time for the rent increase, which will take effect as of 1st April 2023.
The Association would like to remind all tenants that support is always available and Officers can be contacted on 01595 694986.