Public sector rents to rise by 5% from next April

Thu, 01 Dec 2022

Public sector rents on the Isle of Man are set to rise by 5%, with effect from 1 April 2023.

The decision to increase the rental levy has been reached following consultation with the Island’s 15 local housing authorities.

In considering the rise, the Department has been mindful of the rising cost of living and its impact on tenants. However, the cost of building materials, contractors’ fees and housing provider expenses are rising too, and rent increases are considered unavoidable to support essential maintenance and investment.

Tenants who have their rent met by the Isle of Man Government as part of their income assessed Social Security benefits will automatically have their benefits reassessed to take account of the new rental costs.

Infrastructure Minister Chris Thomas MHK said: ‘I am grateful for the input of the local authorities in enabling the team to set next year’s rents, and have also appreciated the opportunity of regional meetings with housing providers to discuss various housing matters, including policies for rent setting and tenancies. I encourage anyone who thinks they may need support to get in touch with their housing provider.’

Public sector tenants are reminded that help is available should they find themselves struggling to meet their financial obligations. In the first instance, they should contact their housing provider who may be able to assist them with a repayment plan. Housing customers could also consider contacting the Social Security Division within the Treasury, where staff can provide advice regarding any financial assistance for which they may be eligible.

 

---