The Jersey Homes Trust has agreed to a temporary rent freeze pending the outcome of a review into social housing rentals by the Strategic Housing Unit.
This follows a recent decision by States-owned social housing provider Andium Homes to delay their annual rent rise after it was revealed that June’s Retail Price Index had risen to 4.5% while the increase in average earnings for the same period was 3.5%.
The States’ rent policy dictates that rents in the social housing sector increase at 0.75% above the RPI, which would have meant that rents in the sector would have gone up by 5.25% on 01 October.
The JHT is Jersey’s second largest provider of social rented accommodation with nearly 800 homes under management.
Commenting on decision, JHT Chairman Michael Van Neste said: ‘We would concur with the comments made by Andium that the rental policy needs reviewing, particularly in the current economic climate.
‘My Board of Trustees therefore decided to freeze residential rents for up to six months from 1st September 2018.’Back