YOUR GUIDE TO
Hackney Living Rent
We do not have any homes available for Hackney Living Rent at the moment.
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Living rent is a new type of genuinely affordable housing.
It’s for people on middle incomes that wouldn’t normally qualify for social housing. Rents are calculated based on a third of average local incomes, meaning they will be lower than the market rent a private landlord would charge.
Living rent homes are aimed at private renters who are struggling to save for a deposit and want to build up savings to buy a home, or are simply looking for a more affordable option.
We’ll show you what a good landlord looks like…
Building homes for living rent is one of a range of measures the Council is taking to improve standards and affordability for private renters in Hackney.
The Government provides no funding directly to the Council to build or manage homes at a discounted living rent, so some homes will be let at a market rent to subsidise those at a living rent.
Hackney Council, through the not-for-profit company set up to manage market rent and living rent homes, will be a responsible landlord following the principles set out in our #BetterRenting campaign.
We won’t charge excessive fees, we’ll offer secure and stable tenancies without unreasonable rent increases, and we’ll be responsive to any repair or maintenance issues.
Cheaper than market rate
Rents would be set at a third of average local incomes – around £900 per month for a two-bedroom property in Homerton. With the equivalent average market rent around £1,800 per month, tenants could save nearly £11,000 a year by renting from the Council.
Managed by Us
The Council would let and manage the homes itself through a wholly-owned, not-for-profit company as part of its #BetterRenting campaign – meaning that as well as a discounted rent, tenants can be sure they won’t face unwarranted fees and charges or excessive rent increases.
Allocations
The following criteria applies for all nominations:
All eligible applicants will be entered into a ballot and chosen at random
Applicants will need to evidence their live/work connection to Hackney
Each home will be subject to minimum household income requirements
Eligibility
Applicants for the new living rent homes must:
Be renting or working in Hackney
Have a household income of less than £60,000
Be unable to currently buy a home (including through shared ownership) in your local area
Ready to sign up for future properties?
Signing up couldn’t be easier! We’ll update you as and when new Living Rent properties come onto the market and if you’re eligible then we’ll be in touch.