Lochaber Area Committee agreed to a 5% garage rents increase for 2023/24
Today (Tuesday 24 January 2023) Members agreed a 5% increase in garage rents for Lochaber garages and garage sites for 2023/24.
Tenant consultation on the general rent increase for Council garage rents for 2023/24 was based on options for a 3%, 5% or 7% rent increase.
A 7% rent increase was recommended for garage and garage site rents which is below the current (November 2022) inflation rate of 10.7%. However, Members agreed a 5% increase, due to current financial pressures impacting both the public and the Council. The additional revenue received through this increase will be ring fenced to fund garage repairs and improvements and will partly offset increases in the cost of repairs.
The Council listened to the responses received through tenant consultation on rent levels. This 5% rent increase in 2023/24 will allow the Council to maintain current levels of service while minimising the financial impact on garage and garage site tenants. Any additional rent income from garages and garage sites generated by a rent increase will be applied as an increase in the area repairs budget for garages and garage sites in 2023/24.
Garage Rent for Council Tenants will increase weekly by 58p from £11.69 to £ 12.27, Garage Rent non-tenant will go up by 70p from £14.03 to £14.73. Garage Site Rent for Council Tenants will increase by 10p from £2.03 to £2.13. Garage Site Rent for Non-Tenant will also increase by 12p from £2.44 to £2.56. As a result, income will increase from £88,085.28 to £92,489.54.
The rate increase will commence from April 2023 and garage tenants will be notified by letter.
The Lochaber Garages and Garage Sites Action Plan for Improvement is available in the report item 6 (appendix 1).