Quote:
Originally Posted by Neil
I think you are in a slightly different position than the Council workers. Your company can make a pay rise relative to how well it is performing and the profits it is making.
Out of interest what percentage increase will be applied to the house/flat rents this year?
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As part of the stock transfer (houses changing ownership) agreement with the council (which was in April 2001) rent increases were at inflation + 1% last year and this year it was increased by inflation levels only.
But the company still remains a not for profit company... i.e any profit made is put back into the company in the shape of improvements to the properties and for the next five years we have the "More than the landlord" scheme which is £5 million pounds (£1 million per year) to be spent by application for various things that can improve tenants lives...eg. works on playgrounds, fencing, environmental works, funding for local groups within our estates, supporting financially and practically with the local furniture stores and loads more