MONDAY, JULY 25, 1983
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UN
HOUSING AUTHORITY COMPLETES RENT REVIEW
* * * *
THE HOUSING AUTHORITY HAS COMPLETED AFTER CAREFUL CONSIDERATION A RENT REVIEW FOR 25 POST-1973 ESTATES WHERE RENTS WILL BE REVISED FROM SEPTEMBER THIS YEAR.
*THE RENT REVISION IS CONSIDERED REASONABLE AND HAS BEEN MADE NECESSARY BY THE CONSIDERABLE INCREASE IN MANAGEMENT AND MAINTENANCE/ IMPROVEMENTS COSTS OVER THE YEARS, SAID AN AUTHORITY SPOKESMAN TODAY.
+FURTHERMORE, A SUBSTANTIAL INCREASE IN RATES HAS ALSO BEEN IMPOSED UPON THESE PROPERTIES SINCE APRIL THIS YEAR.
+EVEN AFTER THE SEPTEMBER REVISION, RENTS WHICH ALREADY INCLUDE RATES AND MANAGEMENT FEES WILL REMAIN LOWER THAN IN THE PRIVATE SECTOR, BUT THERE WILL STILL BE SUBSTANTIAL DEFICITS IN THIS AND COMING YEARS,
+AT PRESENT, TENANTS AT THESE ESTATES ARE PAYING VERY LOW RENT WHICH REPRESENTS ONLY A SMALL PROPORTION, AVERAGING ABOUT 6,8 PER CENT, OF THEIR HOUSEHOLD INCOME COMPARED WITH ABOUT 21 PER CENT IN THE PRIVATE SECTOR.+
THE SPOKESMAN SAID THE RENT REVIEW HAD BEEN MADE AFTER CAREFUL CONSIDERATION OF THE ESTATE VALUES IN TERMS OF LOCATION, FACILITIES AND SERVICES PROVIDED.
IN THE SEPTEMBER REVISION, RENTS IN THE 25 POST-1973 ESTATES, INVOLVING 42 783 FLATS, WILL BE INCREASED GENERALLY BY $2.30 PER SQUARE METRE (OR 21 CENTS PER SQUARE FOOT).
IT IS THE POLICY OF THE HOUSING AUTHORITY TO REVIEW RENTS EVERY TWO YEARS. OF THE FLATS AFFECTED BY THE PRESENT RENT REVIEW EXERCISE, 17 259 OR ABOUT 40 PER CENT HAVE HAD A RENT INCREASE IN 1981, AND THE REMAINING 25 524 FLATS WHICH HAVE BEEN OCCUPIED SINCE SEPTEMBER 1981, HAVE NOT PREVIOUSLY HAD ANY RENT INCREASE,
+THESE ESTATES ARE GENERALLY CONSIDERED TO BE AMONG THE BEST
OF THE HOUSING AUTHORITY ESTATES.
+THEIR FACILITIES ARE OF THE SAME STANDARD AS THOSE FOR NEWLY CONSTRUCTED ESTATES.
+IN ACTUAL MONEY TERMS, THE RENT INCREASES ARE QUITE SMALL AS THE GREAT MAJORITY OF TENANTS WILL PAY NOT MORE THAN $80 EXTRA PER MONTH, WHILE FOR SOME OTHERS THE INCREASES ARE EVEN SMALLER RANGING FROM ONLY $26 TO $42 PER MONTH.
+EVEN AFTER THE REVISION, RENTS FOR THE MAJORITY OF FLATS AT THESE ESTATES WILL RANGE FROM ONLY $7.86 PER SQUARE METRE TO $13 PER SQUARE METRE A MONTH, EXCEPT FOR THE NEW-TYPE FLATS IN ONE ESTATE WHICH ARE OF BETTER DESIGN WHERE THE RENT WILL BE INCREASED FROM $15.06 PER SQUARE METRE TO $17.36 PER SQUARE METRE A MONTH.+
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