Growing the supply of more affordable, better-quality homes for rent with longer-term tenancies is a key commitment for the Department for Communities. The recent publication of its Intermediate Rent policy aims to set the foundations to introduce a new supply of Intermediate Rent homes, which is a new form of affordable housing for rent.
The Department is seeking to engage specifically with the housing sector on the funding package associated with the delivery of new affordable (Intermediate) homes for rent.
The Department will work with the Strategic Investment Board (SIB) to take forward market sounding over Summer 2023, seeking the views of the housing market, to refine the final funding package. The market sounding will help establish the level of market interest to deliver Intermediate Rent homes and the contribution the sector can make to practical delivery.
A spokesperson for the Department for Communities said: “Taking another step towards creating a new supply of more affordable homes for rent, the Department is now engaging further with stakeholders who may have the experience, skills and access to the requisite match-funding to act as the Intermediate Rent Operator for the delivery and operation of Intermediate Rent homes. We encourage feedback on the Intermediate Rent delivery arrangements and the proposed financial support package.
“Responses will help to shape the funding package and steer the development of Intermediate Rent as it moves forward.”
The market sounding will take the form of a written questionnaire and potential follow up discussion with SIB.
Anyone interested in participating in the Market Sounding Exercise can request the questionnaire and supporting information by contacting the Intermediate Rent Project team on [email protected] and submit their response not later than 3pm on 6th September 2023.