What is Intermediate Rent?
Intermediate Rent is a new supply of housing which intends to provide an additional rental choice for lower income households, providing secure, affordable, good quality, well-managed homes at below market rents. Intermediate Rent can provide a solution for households struggling to meet market rents, and those wishing to enter low cost home ownership in the future.
The development of an Intermediate Rent model intends to:
- create a new supply of homes in locations where Intermediate Rent is viable and attractive to deliver and live in;
- provide much needed affordable quality housing for lower income individuals and families;
- provide homes in areas where people wish to live;
- set rent at a level which is more affordable for eligible households;
- enhance security of tenure meaning that tenants can remain in their Intermediate Rent home for the medium to longer term;
- require the Intermediate Rent programme operator to make available a network of management and support services; and
- ensure rollout of the intermediate rented model where it can be viable for the programme operator, subject to approvals and funding.
Consultation Proposals for Intermediate Rent
The Department published proposals around the shape of an Intermediate Rent model including detail on funding, delivery and tenant eligibility and asked for the views of interested parties.
The consultation closed for responses on 14 January 2022. Following analysis of the responses received, the Department published a Consultation Outcome Report which outlines feedback given and the Department’s next steps. A summary document setting out the Intermediate Rent policy principles as outlined in the Consultation Outcome Report has also been produced. All consultation papers, equality screening, Consultation Outcome Report and summary document can be accessed on the Departmental website.
The Housing Executive has commissioned further research, following the Department’s consultation, on prospective tenant and delivery partner views on a new Intermediate Rent product. Intermediate Rent Report NI