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Intermediate rental homes are approximately 20% less than the local market rent for a property. These properties are not subject to right to acquire.
Intermediate rental accommodation is usually aimed at key workers and others who may be unable to pay the full market rent in the area in which they live. Intermediate rent is ideal for those who do not qualify for social rent or can afford the slightly higher rent, but whose circumstances prevent them owning their own home.
The criteria for an intermediate rent property is:
- The scheme is targeted at different groups such as key workers and other employed professionals. Priority will be given to applicants employed in a qualifying key worker profession.
- Have a household income of a minimum of £15,000; the maximum income must not exceed £42,875 for single applicants and £50,000 for joint applicants. Applicants with incomes of between £15,000 and £18,000 will need to demonstrate affordability.
- Have a good credit history.
- Must not have had rent arrears during the last 2 years or have been in breach of a tenancy agreement.
- Must not be in receipt of housing benefit or receiving housing benefit.
- Must not own their own home.
- Must be at least 18 years old.
NB: There are no administration fees when applying for and renting through us.