Magazine article Public Finance

Council Rents Will Match RSL Charges by 2011

Magazine article Public Finance

Council Rents Will Match RSL Charges by 2011

Article excerpt

Council rents will be brought in line with those charged by housing associations but should not increase by more than 5% during each of the next two years, ministers said this week.

Twelve months after the Office of the Deputy Prime Minister put off changes to the rent restructuring formula that would have meant hefty rises during the run-up to the general election, it has declared that it is on course to complete the task by 2011.

The formula for calculating council rents, based on local earnings and property values, will be adjusted so that it is brought fully into line with that used by registered social landlords. The ODPM is also implementing other changes recommended by an independent review in July 2004, including bigger differentials for large properties.

Announcing the changes on November 7, housing minister Yvette Cooper said they would produce fairer rents for different-sized properties. …

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