Barnet Homes plans to raise rent by 2.7% over the next year to counteract revenue losses from central government policies that reduced social housing rents by 1% annually from 2016 to 2020. Cllr Ross Houston attributed the detrimental impact on affordable housing to this rent freeze, which curtailed the delivery of new housing. Currently, tenant rents contribute 84% of the housing revenue account, covering essential services and debts. Additional increases in temporary accommodation rents and service charges aim to enhance Barnet Council’s budget for 2025/26, with some tenants receiving housing benefits to mitigate these hikes.
Over the last year, Barnet Homes rents will rise by 2.7%, following significant rent reductions from 2016 to 2020, affecting affordable housing delivery.
Cabinet member Cllr Ross Houston criticized the rent freeze policy that led to decreased funding and affordability in housing, highlighting its disastrous impact.
With tenant rents comprising 84% of Barnet's annual housing revenue account, funding challenges persist amidst growing demand and service maintenance.
Projected increases in temporary accommodation rents and service charges aim to raise approximately £2.2 million as part of Barnet's 2025/26 budget.
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