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Castle Vale Community Housing Market Rents (including shared living)

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 represents the general market level 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 includes the cost of any services – we don’t charge a separate service charge.

Market rents, shared living and mortgage rescue homes

It is our policy to charge the market rate for our homes. Each year we look to see how the market has changed. We do this by looking at what rate homes are being let at in the area and consider how much demand there is for the homes.

However, if the market rate has increased significantly which could make our homes unaffordable for current residents, we may apply a cap to the increase.