Fixed term tenancies could last two years
New tenants could be offered fixed term tenancies lasting as little as two years, it has emerged.
In most cases the rents for the new tenancies will be set at 80 per cent of market level, and they will be offered to people on local authority waiting lists.
Further details of the new rents and tenancies, which were announced in the comprehensive spending review, emerged yesterday at a National Housing Federation conference in Bristol.
Jamie Ratcliff, head of intermediate markets at the Homes and Communities Agency, said: ‘This is very different from the intermediate rented product that has been delivered in the past, it is not something that is aimed at people in the intermediate market, this is a reform of social rented housing.
‘The rents may be set at a similar level [to existing intermediate rents] but it is going to be local authority nominations and the profile of people going into them will be similar to the profile of people who currently go into general needs housing.’
Mr Ratcliff said landlords will have the freedom to set different lengths of tenure. He said: ‘The suggestion is that between two and five year fixed term tenancies will be something that will give sufficient support to people going into this new product.’
A separate source told Inside Housing that the Communities and Local Government department is working on the assumption that the minimum tenancy will be for two years.
Mr Ratcliff said details of the new product will be published by the HCA in the new year.
