STATE HOUSES

Gisborne Herald, Volume LXXII, Issue 21601, 2 January 1945, Page 6

STATE HOUSES

TOTAL ANNUAL RENTS IN EXCESS OF £1,000,000 “On the whole, the collection of rent for State houses has presented no great difficulty, and it is pleasing to record that in addition to meeting their rentals, the tenants have displayed a keen interest in the upkeep of the houses and sections." states the annual report of the State Advances Corporation. “Since the first houses were tenanted in 1927 (he total rents for all new properties in the scheme up to March 31, 1941, have amounted to £3,845,340, and of this sum, only £2014 has been written off. Arrears of rent on new housing units under administration at the close of the year amounted to £4567. “There are a number of old rental properties included in the assets of the housing account. These represent _1 002 tenancies, and the capital value of the assets at the end of the year was £601,863.” , , Rent collected in the Year ended March 31 last on properties erected prior to March 31, 1937, totalled £54,060, there being an excess of revenue over expenditure of £2167. rental houses erected under the new Tiie revenue account for last year for rental houses erected under the new housing scheme shows an excess of revenue over expenditure amounting to £3873, compared with £6256 for 1942-43. The rent from ihc now houses last year totalled £1,032,074, and on the debit side the following items are shown: —Interest. £270.635: management expenses. £69,618: depreciation £184,801: insurance (including war damage and earthquake insurance). £85.288: rates, £140.683: maintenance, £220,572: losses and vacant tenancies. £51,604.' The charge for war damage insurance was £41.173, which the report points out. will now be considerably reduced because of the reduction in premium from 5s per com. to Is per con!. . ..