What you need to know about Welsh Government's rent settlement
For the past five years, Welsh Government have set their rents at inflation +1.5% with an additional £2 a week flexibility. In December 2018, they released a new rent settlement set at inflation (2.4%) only. The £2 flexibility has also been removed if the landlord is within or above their target rent band.
What this means:-
1) Some landlords have had to put new developments on hold as they anticipated the rent rise would be set higher than inflation
2) Some landlords were disappointed and considering cuts to services
1) As I have mentioned previously, Welsh Government are carrying out a review on Affordable Housing in Wales- due April 2019
2) The review will make recommendations for a new long-term rent policy that is affordable for tenants and allows capability of new housing developments.
TPAS Cymru have been extensively involved in the review; making suggestions through the rent policy workstream, as-well as in our consultation response which can be seen here. We will update you as soon as the recommendations have been published.