Public sector rents to rise by 5% with effect from 1st April 2023

December 06, 2022 by admin No Comments

Public sector rents on the Isle of Man are set to rise by 5%, with effect from 1 April 2023.
The decision to increase the rental levy has been reached following consultation with the
Island’s 15 local housing authorities.
In considering the rise, the Department has been mindful of the rising cost of living and its
impact on tenants. However, the cost of building materials, contractors’ fees and other
housing provider expenses are rising too, and rent increases are considered unavoidable
to support essential maintenance and investment.
Tenants who have their rent met by the Isle of Man Government as part of their income
assessed Social Security benefits will automatically have their benefits reassessed to take
account of the new rental costs.
Infrastructure Minister Chris Thomas MHK said: ‘I am grateful for the input of the local
authorities in enabling the team to set next year’s rents, and have also appreciated the
opportunity of regional meetings with housing providers to discuss various housing
matters, including policies for rent setting and tenancies. I encourage anyone who thinks
they may need support to get in touch with their housing provider.’
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Public sector tenants are reminded that help is available should they find themselves
struggling to meet their financial obligations. In the first instance, they should contact
their housing provider who may be able to assist them with a repayment plan. Housing
customers could also consider contacting the Social Security Division within the Treasury,
where staff can provide advice regarding any financial assistance for which they may be
eligible.

Property Type Average weekly rent for 2023/24 Difference of
1 bed flat £69.16 £3.29
2 bed house £101.77 £4.84
3 bed house £116.60 £5.55
4 bed house £143.58 £6.83

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