shared ownership and other rent increases

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  • #279471
    peterdelamothe
    Keymaster

    Think-tank The National Institute of Economic and Social Research expects RPI, the measure of inflation used for rail fares, student loans repayments, broadband contract rises – to hit 17.7%.

    Shared ownership leases typically provide for annual rent increases of RPI plus 0.5%. So, that would be 18.2% ….

    If the rent is not paid, then both the rented and “owned” part is lost. For no compensation.

    How this affects other rents I do not really know. But I suspect there may be some significant increases this year and next. Trouble is, LHA levels are frozen even as most rents soar.

    Housing Association rents are more controlled and exempt charges are discussed a lot on these boards.

    #279473
    John Boxall
    Participant

    Blog post from the IMF thanks to Richard Murphy from Tax Research here

    https://content.govdelivery.com/accounts/USIMF/bulletins/326635b

    The chart showing the spread in inflation rates between the poorest & richest households is interesting to say the least

    Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. The blossom is blighted, the leaf is withered, the god of day goes down upon the dreary scene, and—and in short you are for ever floored.

    Wilkins Micawber, Ch12 David Copperfield

    #279482
    peterdelamothe
    Keymaster

    “Bank of England predicts 13% inflation and long recession”

    The implications on rents will be severe this and next year.

    My guess is LHA rates will go up at some stage and a mini recalc will be needed.

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