Thursday, 23 July 2015

Pay To Stay 'Likely To Be Tapered'

Social tenants earning just above the new ‘pay to stay’ threshold are unlikely to be hit by a dramatic increase in their rents, with the government expecting to bring in a ‘tapered’ system. Government sources have told Inside Housing that the policy, which comes into effect in April 2017, is ‘likely’ to contain a taper. This means social tenants earning just above the £30,000 threshold (£40,000 in London) may not immediately have to pay market or near market rent. Instead, rent will be gradually increased as household income rises further above the threshold. Read more on Inside Housing.

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