***News *** The Welsh Assembly Government have announced that it will consider extending the rent gurantee period beyond the five year period normally associated with transfers of stock from local authoirty to a registered social landlord.
The decision reflects concerns raised by tenants about what will happen to rent following the five year period. The Minister for Social Justice and Regeneration has ordered an amendment to the guidlines to relect this.
The Stock Transfer Guidance 2002 - Rent Gurantees, Paragraph 4.3.4 of the current guidelines should now read... local authorities can offer to transfering tenants rent increases post ballot that will not exceed the rent increases they would have paid as council tenants if transfer had not taken place. Obviously this would have to be reflected in the 30 year business plan developed by Councils and approved by the Welsh Assembly Government.
Previously 'the Assembly would not normally agree to a rent gurantee for more than five years'.
New tenants i.e. people who are not currently secure tenants of the Council and who move into a home for the first time after transfer will be charged RSL benchmark rents as set by the Welsh Assembly Government from the start of their tenancy.
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