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Rising rent rates due to inflation

Tue, 13 Nov 2012


The Department of Social Care has announced that all public sector rents on the Island are due to rise by inflation.

The increase will now be more closely linked to the amenity values of the properties with the existing system described as outdated.

The previous system was not differentiating between new and old buildings and resulted in price hikes for those who hadn’t seen any home improvements in years.

Minister Robertshaw has said this is much fairer way of apportioning rent, adding if you have more, you will pay more.

The inflation increase will stand at 1.8%, in addition to the changes in pointing formula.

 

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