Affordable Rent
Many of the rented homes we can offer to you are based on an ‘affordable rent’.
Affordable rent is a way of renting homes that was introduced by the government in 2011. It is different from the ‘normal’ way of renting housing association or council homes.
The bad news is that affordable rent generally costs you more than a normal housing association or council house rent. The good news is that affordable rent is less (usually a lot less) than the cost of renting the same house from a private landlord.
An affordable rent is set at up to 80 per cent of the ‘market rent’. Market rent is the average rent for similar properties from private landlords in the local area, including any service charges.
As with other forms of rent, affordable rents are reviewed each year and will usually increase.
Your tenancy under affordable rent will be for a fixed term of ten years. However, you can leave at any time if you give us the notice set out in your tenancy agreement (usually one month’s notice in writing – but check your tenancy agreement, or give us a call, to make sure). And you will usually be able to renew your tenancy at the end of the ten years if you want to stay – although conditions apply to this. We will explain exactly what those conditions are before you start renting a home from us.
If you would like to know more about affordable rent, just fill in the form below.