Westminster adopts five-year fixed-term tenancies and market rents for high earners
Published by Max Salsbury for 24dash.com in Housing and also in Local Government
Westminster Council is to introduce fixed-term tenancies of five years for new tenants and may charge them the equivalent of full market rent, it announced today.
The details of the council's policy changes, which are in line with the Localism Act and will come into effect from 2013, are published today in its new Housing Tenancy Strategy.
Fixed-term tenancies will apply to the majority of new tenants while the higher rents will be charged to those that exceed the Mayor of London's threshold for eligibility for affordable housing, currently set at £77,200 for households living in three bedroom homes.
The tenancy strategy applies to all social landlords in Westminster, and is to be used as a guide for when they are developing or updating their own tenancy policies.
Lifetime tenancies will still be offered in some circumstances, such as to the elderly, and those affected by the council’s housing renewal programme.
Cllr Jonathan Glanz (pictured), Westminster City Council’s Cabinet Member for Housing and Corporate Property, said: “The new housing tenancy strategy is a fair approach to dealing with housing in Westminster and helps to make the best use of our stock at a time when we have such a high demand for homes.
“It will protect and provide stability for vulnerable people whilst not over subsidising households and not disincentivising work.
“It is a new strategy which is fair for current tenants, new tenants and all taxpayers.”