The Hampstead District Management Committee met to discuss the registration of Tenants’ and Residents’ Associations, the Housing Revenue Account (HRA) budget for 2025/26 and rent setting. The meeting was scheduled for 7.10pm on Wednesday the 8th of January 2025 in Committee Room 1 of Camden Town Hall on Judd Street.

HRA Budget 2025/26 and Rent Setting

The most significant item on the agenda for residents was the discussion of the proposed 2025/26 Housing Revenue Account (HRA) budget and rent setting. Officers recommended that Camden Council's Cabinet note their report and respond to the consultation questions contained within it.

The report recommends a rent increase of 2.7%, the maximum permitted under the Government's rent standard. It argues that this is necessary due to several financial pressures including inflation, increased employer national insurance contributions, and depreciation of housing stock, and that:

The 2025/26 budget must focus on the financial sustainability of the HRA, eradicating overspends, delivering on MTFS (medium term financial strategy) savings and replenishing the reserves.

The report details the various sources of income and expenditure for the HRA, with the main source of income being social rents. According to the report, a 2.7% rent increase would generate £3.8 million, adding £3.84 per week to the cost of an average 2-bed property.

The report also proposes an increase in tenants' service charges. The proposed increases vary depending on the service but are in the region of 5%-12%. Taken together the service charge increases are expected to generate £0.9m.

The report proposes freezing the cost of communal lighting due to falling electricity prices, and a 35% reduction in heating costs as the cost of gas has fallen.

Registration of Tenants Associations and Co-option of Tenant Representatives

The Committee was provided with a list of registered Tenants' and Residents' Associations (TRAs) in Appendix A of the agenda pack.

Appendix B of the agenda pack listed those TRAs whose registration had lapsed. The report notes that:

If a TRA wishes to register it must hold an Annual General Meeting (AGM), open to all members, once a year (with an independent observer in attendance). The minutes must be sent to the Tenants Participation Team together with a membership list and a completed registered form.