Public sector rents to rise by 7.5%

08/01/2024

Public sector rents on the Isle of Man will rise by 7.5%, with effect from Monday 1 April 2024.

The decision to increase the rental levy has been reached by the Department of Infrastructure (DoI) following consultation with the Island’s 15 local housing authorities.

Housing providers, including the DoI, have the challenging responsibility of providing affordable housing for rent against a backdrop of rising costs for routine maintenance and planned improvement projects. Rents are therefore being increased to ensure funding is available for the ongoing delivery of repairs.

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 Tim Crookall MHK said:

‘A rise in rental costs will enable further investment in the 6,200 public sector properties across the Island. Building materials, fees, labour and other expenses have all increased in price and it’s vital that this is taken into consideration alongside concerns around affordability for tenants. The input of local authorities has been crucial in deciding this year’s increase and I’d like to thank them for their assistance. Tenants who think they may need support are encouraged to get in touch with their housing provider.’

Help is available for tenants who 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.