Intermediate Rent Minimum Operating Period and Funding Requirements

Intermediate Rent homes are intended to remain as Intermediate housing for rent for the longer term. By offering tenancies of up to five years at a time with the option to renew, (subject to agreement of the landlord and tenant), these homes can be offered for rent to multiple households over time. Given the indicative tenancy durations, it would be expected that a dwelling operating as Intermediate Rent would continue to operate for a minimum period of ten years (i.e. two consecutive five-year tenancies). Intermediate housing for rent may or may not be funded by government subsidy, but Maple and May Ltd will act as the intermediate housing for rent operator delivering government funded housing. Any Intermediate Rent homes which are developed using Government funding would be expected to be retained as Intermediate Rent in line with any funding agreement conditions.