What is the impact of that 1% reduction in rent ?

What is the impact of that 1% reduction in rent ?

In July 2015, as part of the Government’s austerity measures, a 1% per year reduction in

social housing rent for each of the next four years was announced, to start from April 2016.

This has a direct impact on our income as rent income into the HRA will decrease year on

year and consequently the Management fee and other Managed funds will need to be

reduced to take account of this reduced income.

Following discussions with NBC, agreement has been reached with the Council’s Cabinet on a revised five year financial plan, which reflects cumulative reductions in income to NPH of £20m over 4 years.

nph contract

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s