Waltham Forest Echo

Waltham Forest Echo

Council tenants face maximum possible rent hike next year

The proposed hike will go before the full council next month

Hero for Council tenants face maximum possible rent hike next year
The small increase proposed is double the hike introduced earlier this year (Stock image: Pixabay)

Council tenants across the borough are likely to see their rent increase by the maximum amount possible next year.

At a meeting of Waltham Forest Council leaders on 4th November, a 4.1% increase in council rent next April was proposed.

If agreed at the full council meeting in December, the rise would be more than double the 1.5% increase that came into effect this April.

The council's cabinet member for housing, Louise Mitchell, said the hike was necessary to allow more new homes to be built and to fund the maintenance and repair of existing homes.

She said: “We are estimating £69million will be available for investing in the existing stock, a lot of that money will be spent around fire safety work.

“I’m confident that the report I’m putting forward will allow the council to achieve all the things we want to do and continue those priorities while maintaining our financial stability.”

Read more: Nearly 5% council tax rise agreed earlier this year

Current Government rules on council rent rises will allow maximum increases linked to inflation until April 2024, when councils must limit their budget to more “prudent” 1% rises.

Waltham Forest Council’s housing account was £200million in debt in April this year.

At the same meeting, council leaders also agreed to continue offering council tax discounts of up to 76% for struggling working-age residents and up to 100% for those who are retired. 

The Government pays £14million towards supporting Waltham Forest council tax payers, while the council funds the remaining £4.3million from its own budget.