How can I rent with L&Q?
Intermediate market rent (IMR) is designed to help working households who:
• cannot afford to buy a home yet
• cannot afford the cost of renting on the open market
• cannot access social rented housing
IMR offers you the opportunity to rent at less than the market rate. The rent charged is usually 20% lower than what you'd expect to pay if you were renting a similar home in a similar area from a private landlord.
There's also an additional set of eligibility criteria which applies for IMR:
• overall household income must be below £90,000 if applying for a property in London
• overall household income must be below £80,000 if applying for a property outside of London
• you cannot be a property owner
• you may be required to currently live or work in the area in which you are applying to rent
All of our IMR properties are listed on Right Move.
We calculate rent based on a number of factors – including location, size and the specification of the property and will align our rents with other private rental values in the same area.
Anyone who meets the minimum required household income can rent through L&Q, and this is set to make sure you're able to comfortably afford the rent and living costs associated with living in the property of your choice.
All of our private rent properties are listed on Right Move.
Under the LLR scheme:
• rent is calculated and set at a third of the average income for that area
• rent will increase annually in line with CPI set by the GLA
• a three years tenancy agreement (AST) will be given initially – and then renewed on an annual basis until the end of the ten year term
• the aim is to have the capacity to buy either all or a share of the property at any time within ten years
• if you've not been able to buy after ten years – the property will be taken back
To find out more, please visit LQ Homes.
To rent one of our properties for the over 55's, please register directly with you local council at Gov.uk.