STORY
Rugby Borough Council has been found to have serious failings by the Regulator of Social Housing after around 4,000 tenancies were potentially overcharged rent.
The regulator said the council had applied a general rent-setting approach which failed to use the correct property valuations as the basis for formula rent. When the correct valuations were applied, the overcharges were estimated at about £415,000.
The council said it had identified the historic issue through its own investigation and reported it to the regulator. It apologised to tenants, said further verification work was continuing and promised that where tenants had been overcharged it would put matters right.