Affordable Rent Scheme: Part 1 – The Process

Today we have a great guest blog from our very own Lettings Administrator, Ellie! She will take you through the five step process of applying for one our homes on the Affordable Rent Scheme.

Step-by-Step guide to the Affordable Rent Scheme

At Space Property, we offer affordable housing and one of the schemes some of our properties are available on is the Affordable Rent Scheme. The rent is offered at 80% of the open-market value. The scheme is designed to help families or individuals who cannot afford to rent a property on the open market which meets their housing needs.

If you are interested in the Affordable Rent scheme and would like to apply, here’s a step-by-step breakdown of the application process:

Step 1 – Check you meet the Affordable Rent criteria and fill out an online application form If you see a property advertised on the Affordable Rent scheme and are eligible to apply, you will need to fill out a short application form online. Make sure you read all the information on the advert as you will need to select the correct scheme, housing association and development on the application in order for us to see your application at the next stage.

Step 2 – We review the applications

Each property is advertised for two weeks and there is a set deadline applications need to be completed by. After the deadline all the applications are reviewed by one of Space Property’s Lettings Co-ordinators who manage the property.

Step 3 – We allocate the property

The property is allocated to the applicant of the scheme who has the most need for it and this is worked out using a point based system. We take into consideration a number of different factors to assess housing need and financial circumstances.

Step 4 – We contact you with our decision

If you have been allocated the property, you will be contacted and offered a viewing at the property. If you have not been successful, we will contact you via email to let you know.

Step 5 – You will be invited to view and, after viewing, reserve the property

If you have been allocated the property, we will offer you a viewing. If you choose to reserve the property after viewing, you will need to pay a reservation fee of £170 (single applicants) or £220 (joint applicants) which covers the cost of an admin fee and credit check. Once the credit check has been returned and checks have been carried out at the property, we will arrange a sign in date. The bond (the equivalent of one month’s rent) and first month’s rent will need to be paid the day before the sign up.

For more information about properties available on the Affordable Rent scheme, please sign up for email alerts on www.spaceproperty.co.uk/users. Or if you have any further questions, please contact us on enquiries@spaceproperty.co.uk

Ellie will be back tomorrow with Part 2 – Application Tips!

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