Affordable Homes in Hertfordshire

Intermediate Market Rent

Intermediate rent is a product aimed at first time buyers who cannot afford to purchase a property at the current time, possibly because they do not have enough deposit for example, but who aim to get onto the property ladder in the short to medium term - i.e. within about 5 years.

The rent charged will be a maximum of 80% of 'local' market rents i.e. the market rent charged for a similar property in the same area. Service charges are included in the 80% rent.

Although your landlord may be a housing association the tenancy is a renew-able Assured Short Hold tenancy and is not a social housing tenancy: you will have no automatic Right to Buy or Right to Acquire the property, mutually exchange or transfer to another property.

The properties are usually 1 or 2 bedroom apartments although houses are occasionally available. They are unfurnished, but will include floor coverings and some white goods.

If you accept an Intermediate Rent tenancy, you will be expected to pay your first months rent in advance, together with a months rent as a deposit. This deposit will be held in the Deposit Protection Scheme (DPS) and will be refundable at the end of your tenancy. However prior to your tenancy termination your landlord will undertake a property inspection and any costs involved in returning the property back to a fully let-able condition (if applicable) will be deducted from the tenancy deposit before it is returned to you. Examples could be cleaning the property, breakages, outstanding rent etc.