4.1 Rents

4.1.1  The rent re-structuring framework does not apply to Intermediate Market Rent.

4.1.2  Where there are changes to the rents from the original bid RSLs must notify the Regional Investment Team, who may require a revised bid submission for the scheme as the rents charged could affect the amount of SHG payable on a scheme. 

4.1.3  IMR must not exceed 80% of the current local market rent. For further details click here. Whilst annual rent increases above RPI plus 0.5% are not prohibited, there is an expectation that any increases in excess of this amount would need to be both affordable and fair to the intended client group. In any event rents must remain at less than 80% of market rent.  

4.1.4  For Guidance on rent in advance, service charges and damage deposits, click here.

4.2  Single/Joint Tenancy 

4.2.1  Where the property is let to joint tenants the AST will be granted to both parties who both need to be fully aware of the terms.