A new ‘Manchester Living Rent’ has been introduced by the council in order to allow more people to afford their own property. Bosses say the rent will be set at a level which people on housing benefit can access.
The living rent will form a key part of projects completed by This City, the council’s new home-building firm. Some 20 percent of the properties it will construct will be available on the MLR.
Several housing associations have also signed up to the scheme, with council leader Bev Craig spear-heading a push to get every housing association and registered provider signed up in the city.
Coun Craig said: “I grew up in Council housing, my family still rely on it. I know first-hand the security that affordable housing can bring. This is something we care deeply about and something we are committed to improving in the city. We should and will do anything in our gift to bring homes to Manchester people that they need - and in places they want to live.
“The Manchester Living Rent is important in that it creates a level playing field when it comes to housing affordability. It means that regardless of where the home is in the city, it can be affordable to anybody. It’s a clear and straightforward way of describing what we mean- low cost homes that people on a minimum wage can afford.
“The Manchester Living Rent is just the start. We are launching our new Housing Strategy with ambitious plans for the city and building homes at the Manchester Living Rent level is a key part of this.”
The council will also ask for developers to make a portion of their new complexes available at the MLR. However, the Manchester Evening News understands that this cannot be mandated in planning law as it is not part of the existing national framework.
The rent will be pegged to the same level — or below — of the Local Housing Allowance level. The LHA is the rent level set by the Government that will cover a person’s rent if they are on housing benefit.
Manchester Living Rent is also cheaper to residents than the standard Government definition of Affordable Housing – or 80 percent of market value for a particular area.
