Purpose

Report to set the HRA Budget and Rent Levels
for 2024/25

Content

The Cabinet considered
the rent levels and service charges for the Housing Revenue Account
(HRA) and a recommended budget for 2024/25 and then recommended
that the Council Meeting give approval to:-
 
(1) An increase of
7.7% for social and affordable rent.
 
(2) An increase of
9.4% for rent of shared ownership properties.
 
(3) Service charge
increases as outlined the updated section 3 in this addendum, with
authority delegated to the Deputy Chief Executive, in consultation
with the Cabinet Member for Economy, Regeneration & Housing, to
agree a lower increase should this be necessary.
 
(4) The Housing
Revenue Account Budget for 2024/25 as set out in Appendix 1.