Communities Minister Deirdre Hargey has given the go ahead to creating an additional supply of ‘Intermediate Rent’ homes, providing another affordable housing option.
It follows a public consultation on a new Intermediate Rent policy, seeking views on the need for these homes, and how a subsidised model should operate.
Intermediate Rent seeks to offer a more secure, affordable and supportive rental option for low to moderate income people and families who are struggling with the costs of market rentals.
Publishing the Consultation Outcome Report, Communities Minister Deirdre Hargey said:
“A new supply of Intermediate Rent homes can provide an affordable option to people and families. Feedback from across the housing sector, and from prospective tenants, supports the delivery of more affordable, secure and good quality homes through an Intermediate Rent programme.
“The ability to fund the development of a new supply of Intermediate Rent homes through Financial Transactions Capital loan will allow us to provide a new supply of much needed affordable homes.”
The Department will now, subject to final approvals, procure an Intermediate Rent Operator later this year.
Notes to editors:
- The Consultation Outcomes Report, “Intermediate Rent: Development of Policy and Model” can be viewed here
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