What is discounted rent?

Discounted rent (also known as intermediate rent) offers homes for rent at a reduced rate, typically 20% less than the full market rent. This enables you to save for a deposit to purchase a home of your own in the future, either through shared ownership or on the open market. Homes are available to rent on an assured shorthold tenancy for a minimum term of six months.

What costs are involved?

You will need to have savings to cover the security deposit (typically the equivalent of one months’ rent) plus rent in advance (up to six weeks depending on the date the tenancy is signed). The monthly rent is payable in advance, due on the first of the month and will be subject to an annual review every April.

Who is eligible?

If you’re looking for a more affordable way to rent, our discounted rent homes may be available to you, subject to meeting the eligibility criteria below.

Annual income – up to £80,000 outside London, up to £90,000 inside London
Be in permanent paid employment (or with at least six months on your contract) and able to cover the monthly rent without assistance (applicants in receipt of benefits will be considered where these are received alongside paid employment)
Have the ‘right to rent’ in the UK
Be over the age of 18
Have a good credit rating (no CCJs/defaults in the last three years unless satisfied more than one year ago or less than £300 in total and satisfied prior to application)
Have savings to cover the security deposit (equivalent to one month’s rent) plus additional rent in advance (up to six weeks depending on date of sign up)
Homeowners will only be considered if your home will be sold prior to the tenancy starting
An affordability assessment/budget planner will be completed to ensure the monthly costs will be sustainable

Current availability

Discounted rent homes become available from time to time, depending on location and demand. You can check our current homes here to see if any discounted rent properties are currently available.

What is discounted rent?