Housing corporations to cut back on maintenance, increase rents
Monday 31 December 2012
Housing corporations are planning to cut back on renovations and home improvements over the next few years but rents will still go up, Nos television reports.
The broadcaster questioned 150 housing corporations about their plans and found some 20,000 houses will not be renovated and the installation of extra insulation and double-glazing is also being cut back.
Corporations blame the cuts on the government’s decision to levy an extra €2bn a year on their combined income.
In addition, almost half the corporations will stop building new homes from 2014. Plans for at least 16,000 homes have been scrapped.
Corporations also plan to spend less on buildings for public use, such as schools, nursing homes and childcare centres.
Some three-quarters of housing corporations told Nos they planned to increase rents to their maximum level - 4.5% of the value of the property.