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Rents to increase by 3.86%
The Council recently announced next year's rent increase. Rents on the World's End Estate are to increase by an average of 3.86% bringing the average rent charged for a flat on the World's End Estate, excluding service charges, to £126.51 per week.
The average rent increase across the rest of the borough is 6.26% and the average rent across the rest of the borough will be £118.29 per week.
As in previous years the Council has stated that it is increasing rents to try and meet the "target rent" for individual properties. The average target rent for a property on World's End is £126.65, only fourteen pence more than the proposed average rent. Such a small difference has resulted in this year's below average increase and should result in further lower than average increases going forward. Whilst the below average rent increase is to be welcomed, these figures confirm that rents on World's End are already significantly higher than the borough average.
A full breakdown of the increases is shown below (rents indicated exclude all service charges):
All tenants should have now received a letter from the TMO informing them of their individual rent increase from April 2014. Any tenant who has not received a letter informing them of their individual rent increase should contact their housing officer.
This page is published by the World's End Residents Association.