Pay to Stay – What it means to council tenants

Pay to Stay – What it means to Council Tenants

ANGER

From April 2017

 

If your household income is more than £30,000 your rent will go up and could go up to as far as market rent.

 

How income thresholds should operate have currently not been set but could for example be through the use of a simple taper / multiple thresholds that increase the amount of rent as income increases.

 

Will the extra rent income be used in Northampton?

 

No local authorities like Northampton will ONLY be allowed to recover any reasonable administrative costs before they are required to return additional income from increased rents to the exchequer

 

How will the council know how much my family get paid at work?

HM Revenue and Customs will share income information with social landlords to help them implement the government’s Pay to Stay rules, a new bill has revealed.

The Housing and Planning Bill, which was published 13th October, says that while social landlords will have responsibility for ensuring tenants declare their incomes, HMRC will be given new powers to disclose data in order to allow landlords to verify the information and ensure they are charging the correct rents.

 

Some rental detail for Northampton

The average rent of a three bed roomed council property in Northampton is currently £417pcm and will decrease by 1% for the next 4 years

The average market rent for three bedrooms in Northampton is £841pcm

Market Property Rents in Northampton by Number of Bedrooms

  Average rent
One bedroom £723 pcm
Two bedrooms £718 pcm
Three bedrooms £841 pcm
Four bedrooms £1,133 pcm
Five bedrooms £1,535 pcm

http://www.home.co.uk/for_rent/northampton/current_rents?location=northampton

 

 

Council Property Rents in Northampton by Number of Bedrooms

  Average rent
One bedroom £324 pcm
Two bedrooms £375 pcm
Three bedrooms £417 pcm
Four bedrooms £456 pcm

Council Property Rents must go down by 1% for the next 4 years

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