Social housing rents across Nottingham and Nottinghamshire will not rise as much as soaring inflation rates next year. The Government has run a consultation on increasing rent fees by a maximum threshold of five per cent – less than half the current 10.1 per cent inflation rate.
Rent increases of three and seven per cent had also been discussed. The results of the consultation, which closed last month, will impact the budgets of all councils in England when setting rent charges for social housing.
Ministers set the ceiling for local authorities in how much they can raise rents and, in usual years, fees would increase by the consumer price index (CPI) plus an additional one per cent. However, if bills increased by the current 40-year high inflation rate, tenants’ bills increase by as much as 11.1 per cent from April next year.
