Tenants in social housing will have rent increases capped from 2019.
The new system would see rent increase annually by at least 2.5% and no more than 4%.
Social housing rents increase annually by RPI+0.75%. That will stay, but the level of RPI will be restricted to between 1.75% and 3.25%.
It follows the decision by Andium to hold off its increase this month because the Retail Price Index – which social housing rent is currently based on – rose more than expected.
If it had gone ahead, tenants would have faced an increase of 5.25%.
“I am pleased that, with the agreement of Andium Homes and the Treasury Minister, we have been able to introduce a cap on the level at which rents can be raised.
It was clear that with inflation at a higher rate than was expected this year, that the old system would not be fair for tenants who would have seen a 5.25% rise in rents.
“In line with the government’s strategic priorities, work will continue next year with a new Housing Policy Development Board to examine further work we can undertake to review our rent policies.” – Senator Sam Mezec, Housing Minister.
The date for rent adjustments has now been moved to the 1st of January, rather than 1st of October.
Jersey takes step closer to protecting whistleblowers
Tickets on sale for women's Muratti
New 'competitiveness' plan to protect Jersey's £3bn financial sector
Fines for 'Jersey Lifts' drivers a step closer?
£225K grant given for clinical trial into heart failure
New school grouping system to address pressures on Education
Jersey to nearly quadruple its protected waters
Broad Street turns a new leaf
