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renting from council- year on year increases?
brightonman123
Posts: 8,535 Forumite
Another 2% rise in coming year's rent.. Are these ongoing rises hikes normal, nationwide- for council / private renting?
Long time away from MSE, been dealing real life stuff..
Sometimes seen lurking on the compers forum :-)
Sometimes seen lurking on the compers forum :-)
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Comments
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Ours-
2010 £500 per month
2011 £520 per month
2012 £540 per month
2013 £560 per month
2014 £575 per month0 -
http://www.insidehousing.co.uk/councils-to-increase-rents-by-51-per-cent-on-average/6526152.article
Average rent increase 5.1% in 2013/2014 by 22 out of 25 councils0 -
Go private - it'll be a lot more for simialr property.0
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If you are renting from your council 2% increase sounds about right. They are probably are using a target rent formula which allows an increase of RPI plus 0.5% with the added ability for them to change it by an additional £2 (or reduce rent increase by same). My rent is due to go up in April by a similar percentage amount. I would hardly call it a hike.
I suspect social housing is always cheaper than private renting as well as being more secure.Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.0 -
My rent has been going up by between 8% and 10% every year for the last four years.This year it will go up by 8.5%.
Something to do with making it on the par with the housing association rent. This is the last year they can increase the rent as they want as starting next year they will be forced to implement the target rent formula.
The new tenancies signed by new council tenants are not as secure since 2013, tenants will be reassessed every 3 or 5 years.0
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