Rentplus

General information

Rentplus is a new housing model that will provide affordable housing while giving hard working families the support they need to move into home ownership.

The model will see new affordable homes built to Homes and Communities Agency standards and funded through pension funds or institutional investors seeking ethical investment, without public grant.

New Rentplus homes will be managed by a local housing association partner who will let the homes to tenants aspiring to home ownership.

They will be offered a series of five year tenancies at affordable rents and tenants on the housing list will apply for a Rentplus home through Devon Home Choice or the local government-approved Help to Buy agent.

Tenants will have the opportunity to buy their homes after an agreed period of between five and 20 years and will be eligible for a gifted deposit which is provided by Rentplus.

If a Rentplus tenant or the housing association partner does not purchase the home, the property will be sold on the open market with a proportion of the sale price provided to the Local Authority to replenish the supply of new affordable housing.

The substantial investment funding identified for Rentplus homes, which is not dependent upon the availability of public grant, provides an opportunity to significantly increase the number of new homes available at affordable rents. The Local Authority will receive payment of a New Homes Bonus augmented by the affordable supplement for each new home.

Visit the website at www.rentplus-uk.com or get in touch on LinkedIn https://www.linkedin.com/company/rentplus and Twitter www.twitter.com/rentplus_uk