Rentplus is an award winning and growing force in affordable rent to buy home ownership across the country.
Our tenure is fully NPPF-compliant both as “affordable rented” and “route to home ownership” in Annex A and D.
As the leading provider of affordable rent to buy housing, we help low and middle income aspirant homeowners unable to save the large deposits demanded for other tenures. We do this by removing the deposit barrier. Moving into a brand new Rentplus home requires no deposit.
Tenants rent for 5-20 years, giving them time to save and to restore creditworthiness. And, uniquely, when they are ready to buy, we gift them 10% of the market value to put towards their deposit.
Our homes attract key workers who want to own a home and contribute to the local economy but can’t afford to buy because of the deposit barrier. These are the people our communities depend on. Often stuck in private rental housing unable to save deposits whilst paying high rents, they are locked out of other home ownership schemes such as Help to Buy or Shared Ownership. This is due to the large deposits and strong creditworthiness required.
New government proposals like First Homes won’t help either, because of that deposit requirement.
The average household income of Rentplus families is £31,200, compared to £52,495+ for Help to Buy and £34,000 for Shared Ownership
Rentplus won the NHA’s Most Innovative Home Ownership Solution. Judges said: “It’s an innovative scheme with the potential to help a wide range of people who cannot currently access home ownership.”
Supported across the political spectrum, there are no political or legal barriers to local authorities introducing Rentplus.
Ex-Minister of State for Housing, Kit Malthouse MP, said: “The Government is committed to rent to buy…so that low income families have the opportunity to buy or rent a good quality home.”
Families moving into affordable rent to buy homes have a positive impact on existing social housing stock: up to 66% of our tenants moved from local housing waiting lists.
In some areas, 50% of Rentplus families moved out of a social rented property, freeing it up for reallocation.
Privately funded but driven by social outcomes, Rentplus works in partnership with local authorities, registered providers and housing developers to deliver affordable homes for people in places where people want to live.
The Rentplus developments are ‘tenure blind’ meaning more diverse communities delivered locally.
We support councils to deliver better housing strategies by providing a housing solution for lower- and middle-income families on housing waiting lists and in local communities. Rentplus also helps councils meet extended obligations under the Homeless Reduction Act.
At a time when budgets are extremely constrained, a privately funded affordable housing solution adds to the local offer and meets the needs of a significant number of families whose needs otherwise would not be met.
Already established in nine counties across England, Rentplus has hundreds of new homes under offer in its pipeline of 22,000 new homes, and £2bn to invest today.
There are specific households in your authority who would benefit from our affordable rent to buy.
Rentplus is an award-winning, innovative housing model helping developers to improve the tenure mix on developments. We can help bring forward stalled sites and improve the viability of schemes, whilst increasing the number of NPPF compliant homes on developments, helping meet the local planning requirements for mixed tenure schemes.
T: 0330 229 0035