Issue - meetings

(The Director of Housing) To consider the attached report (CHB-010-2013/14).

(1)        That the Council’s Rent Cap remains at £180 per week for 2014/15;

(2)        That the Council’s Affordable Rents Policy be applied to both:

(a)        Financial Appraisals for potential developments; and

(b)        To the actual rents charged for properties when they are let;

in relation to market rent levels, Local Housing Allowance (LHA) levels and the Rent Caps applicable at that time;

(3)        That the Council’s Rent Cap next be reviewed by the Cabinet Committee towards the end of 2014/15, in time for inclusion within the Rents Strategy Chapter of the HRA Business Plan for 2015/16.

The Director of Housing presented a report to the Cabinet Committee regarding the review of the Rent Cap, relating to the maximum rent to be charged for affordable rented properties. He advised that the Rent Cap was due to be reviewed by the Cabinet Committee but that, as the current level had been agreed only just over 6 months previously, it was suggested that it remain at £180 per week for 2014/15.

Decision:

(1)        That the Council’s Rent Cap remains at £180 per week for 2014/15;

(2)        That the Council’s Affordable Rents Policy be applied to both:

(a)        Financial Appraisals for potential developments; and

(b)        To the actual rents charged for properties when they were let;

in relation to market rent levels, Local Housing Allowance (LHA) levels and the Rent Caps applicable at that time;

(3)        That the Council’s Rent Cap next be reviewed by the Cabinet Committee towards the end of 2014/15, in time for inclusion within the Rents Strategy Chapter of the HRA Business Plan for 2015/16.

Reason for Decision:

The Cabinet Committee is required under the Council’s Affordable Rents Policy to review the level of Rent Cap each year.

Other Options Considered and Rejected:

(1)        To either reduce or increase the level of Rent Cap; or

(2)        To no longer have a Rent Cap.