Cost of renting in Newark and Sherwood set to increase
| Updated: 12:00, 24 February 2021
After four years of reductions, the cost of renting in Newark and Sherwood has increased.
The district councilâs unanimous decision to increase the housing revenue account budget follows losses of £11m over the previous four years.
Councillor Tim Wendels said it was important to increase the price of renting by 1.5% to boost the budget.
Renting out a room.
âWe went through a difficult period between 2016-17 to 2019-20 when we were made to reduce our rents by 1% each year and that resulted in a significant loss of income.