Wrexham Council are set to approve a 4.33% rental increase this Tuesday.
The report, viewable here on the Council’s website, is being put before the Executive Board on Tuesday for approval. It is proposed that rents for 2014/15 is to be set at the guideline rent level of £74.50 (52 week basis) equivalent to £81.71 (48 week basis).
Lead Member Councillor Mark Pritchard said the increase was a “sensible rent” and “set fairly so the tenants can afford it”.
The increase includes ‘all council dwellings’ , with separate recommendations to increase charges for Travellers’ plots, garage rent and heating charges of 4.33%.
The rental increase is in line with Welsh Government guidelines for rent, however the Office for National Statistics stated last month that the 2013 inflation figure was 2.6%.
Cllr Pritchard went on to say that the rent increase will help fund improvements to properties, “We are doing a lot of work in our properties. We are investing in our stock, with a rolling programme as we speak.”
“We have completed four wards, working through them alphabetically.”
“We know people are having a rent increase here, but we are making substantial improvements to their property.”
“Nobody likes a rent increase but reality tells us we need to generate more income to pay for the improvements we are making”.
The report also details the Housing Revenue Account, showing an income for the Council of £42,000,000 in 2013/14 for ‘dwelling rents’ , with Solar PV feed in tariff producing reciepts of £1.25 million.
Overall expenditure was detailed as £43,743,000 compared to revenue of £44,480,000, showing a gain of £737,000 , however this is budgeted to be a decrease in 2014/15 of -£718,000.