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Affordable Rent | South Lakes Housing

Affordable Rent

What affordable rent?

Affordable Rent is capped at the local area housing rates or at 80% of the market value, dependent on which limit is reach first. This allows residents to rent a new build or redeveloped home at lower rate. This was introduced in 2011 following the decrease in access to grants to enable housing providers to still be able to build new development and create sustainable funding.

What are the benefits?

Affordable rent enables those who may not be able to afford market rents to lower their cost of living. This can be viewed to provide opportunities to improve quality of life in both the day-to-day of tenants; or even aid them in achieving long terms goals such as saving for home ownership.

Am I eligible?

Dependent on the location, all our affordable rented properties will be let using the local area’s social housing allocations policy and method.

Eligibility for tenancy is outlined in the relevant areas allocations policy.

All our schemes in South Lakeland will be advertised on Cumbria Choice, an allocations system which utilises an online choice-based lettings system formed by a partnership of 13 social landlords which cover county of Cumbria.

Click here to find out more about Cumbria Choice

For more information contact us at development@southlakeshousing.co.uk