Ever wondered what Affordable Housing means? Read on! Affordable Rents were introduced by the Government in 2010, as a new type of flexible tenancy, designed to help address the shortage of affordable homes in England and ensure those in the most need can be housed. It also seeks to give housing associations a way to help finance the building of new homes, with little, or no, grant funding. Affordable Rents are calculated at up to 80% of the market rent in that area. Although they are more expensive than social rents, they are more affordable than renting at the full market rent – hence the name of Affordable Rents given to them by the Government. Affordable Rents will allow a more diverse offer for the range of people accessing social housing and enabling housing associations to offer individuals, who are not able to afford adequate housing in the private market, an alternative to social rent. Anyone currently eligible to apply for a general needs social housing property can apply for an Affordable Rent property under a Choice-Based letting scheme such as Cheshire Home Choice.
Posted on: Mon, 28 Apr 2014 14:00:00 +0000
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