New rents for Marlborough’s Senior Housing
After being ratified by the full Council at their meeting last Thursday, Marlborough Housing for Seniors sub-committee has advised tenants in Council owned senior housing that rents will increase in October.
Housing for Seniors sub-committee Chairperson, Councillor Cynthia Brooks, said tenants will have received a letter in the mail this week advising them of their weekly rent increase and the agencies to contact should they require additional assistance.
Setting the new rents has been a fine balance, Clr Brooks said.
On one hand we need to ensure the senior housing portfolio breaks even and is sustainable in the long-term without relying on Marlborough ratepayers to fund the shortfall. On the other hand, we need to weigh up the impacts a rent increase may have on our tenants, she said.
We have always tried to adopt a rental policy that allows Council to break even on its rental portfolio so that it is not a burden on all ratepayers. Without a rent increase, which has been kept to the absolute minimum, the portfolio was facing a loss of around $140,000 this year, Clr Brooks said.
The new rents will increase by between $13 and $19 per week depending on the size of the unit. For example, a studio unit will increase by $13 per week from the current $146 to $159; a one-bedroom unit will increase by $15 per week from the current $174 to $189; a two-bedroom unit will increase by $19 per week from the current $226 to $245.
Rent increases will be effective from 13 October 2021.
Disclaimer
The information in this media statement was correct at time of publication. Changes in circumstances after the time of publication may impact on the accuracy of the information.