The Management Committee has considered a draft budget and rent review and this is now out for consultation to our tenants, with a deadline of Monday 24 Feb – 5pm for written comments please. The MC meeting on Tuesday 25 February evening will consider the matter further and all submissions, before making a decision.
The proposals for rent include: (a) an inflation rise of 1.1% (our third-lowest ever rise in the last 30 years) and (b) the 3 points extra for Main Site tenants for major repairs funding. That would mean an increase of 2.1% overall on average for Main Site tenants. Inflation (at December 2019) is 2.2% RPI and 1.3% CPI.
The detailed documents considered at the January MC meeting are available for download here, and are: Options & proposals for budget 20-21 and Minutes of Finance Sub Grp 21.2.2020 and Budget 2020-21 narrative and Budget 2020-21 spreadsheet and Maintenance draft budget 2020-21 and Service charge draft budget 2020-21
We welcome any comments from tenants on these proposals by Monday 24 February 2020 – 5pm.