Market rents are let at the market rate for a property. They are often let on fixed term tenancies of 6 months. This means we look at the rents for the area, and work out what is reasonably achievable for the property.
These rents are not regulated by the government, but we set them at a rate at which we think we can get for the property. These properties are not subject to the same waiting lists as social homes and are often immediately available to the first person who meets the qualifying criteria. They are not built or purchased using government money which is why there are no rules on the initial level of rent – potential customers decide if they are willing to pay the market rate and can shop around for other deals in the market.
The rent set includes the cost of any services – we don’t charge a separate service charge.