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Home > Company News > Cabinet asked to approve Housing Revenue Account Budget for 2021/22

Cabinet asked to approve Housing Revenue Account Budget for 2021/22

Posted on: 25/01/2021

BCP Council’s Cabinet will be asked to agree the proposed budget for the Housing Revenue Account (HRA).

The budget sets out the rents, service charges and other charges to tenants as well as the expenditure plans for the 2021/22 rent year.

Rents for social housing are to be increased by 1.5% from 5 April 2021 in line with the Ministry of Housing, Communities and Local Government Policy statement on rents for social housing which sets out an annual rent increase of the consumer price index + 1%.

Currently, the average weekly rent charged by BCP Council in general needs housing is £84.85, which is below the rent chargeable under a national rent formula within the policy statement. Rents for new tenants will increase to the average “formula” rent of £87.65 but this will not apply to existing tenants.

Councillor Robert Lawton, BCP Council’s Portfolio Holder for Homes said:

The HRA capital programme budget priorities ensure that council housing is fit for purpose, and that we continue to provide access to rented accommodation of all tenures across the area.

The budget and rent costs have been set out in line with national guidance in order to reflect the impacts of inflation. Although council house residents will see a small rent increase, most will still be paying below the national formula rent.”

The full report can be viewed here

 

 

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