Public sector rents on the Isle of Man are set to rise by 5%, with effect from 1 April 2023.
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.
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Full press release available to view at: Public Sector Rent Increase 2023/24