The increase is in line with the preference of 80 per cent of the tenants who voted in our rent consultation.
Of the 485 votes received, 291 wanted Option 2 (an annual increase of no more than 3 per cent for each of the next 3 years).
Option 1 (a one-off annual increase of 2.7 per cent) and Option 3 (a one-off annual increase of 3.2%) each received 97 votes.
Option 2 was approved by our Board of Management at a meeting on 11 February. As the Retail Price Index (RPI) rate plus 0.5 per cent was less than 3 per cent this year, a 2.7 per cent increase will be applied.
Our director Pat Cahill said: “I thank everyone who took the time to tell us their views on the options for this year’s increase.
“Our Board of Management read all 219 supporting comments before they agreed to approve Option 2.
“A capped increase for 3 years will hopefully provide some certainty to tenants while allowing us to improve our homes and services.”