Over the last few years the Government has cut funding for building new homes. To counter this, they introduced affordable rents which can be set at up to 80% of market rents in order to raise additional money for developing homes. Clarion Housing has a programme of conversions from social/target rent to affordable rent. The programme is agreed with the GLA (Greater London Authority) (for London) and HCA (Homes and Communities Agency) (For non London).
From Monday 14 November 2016, we will be converting more properties to affordable rent level to enable us to build more new homes. This means that some rents will be set at up to 80% of market as opposed being let at the traditional target rent level. To find out more about affordable rents click here.