Mid Market Rent is a scheme to help working households on modest incomes to access high quality affordable rented accommodation.
Who is it for?
Mid Market Rent aims to help people who have difficulty accessing social rented housing, buying their own home, or renting privately.
Prospective tenants should have means to pay rent without claiming benefits and should be individuals or households on low/modest gross annual incomes that do not exceed:
- £39,067 in Edinburgh
- £28,00 in the case of single person households in Dundee & Perth
- £37,000 in the case of other households comprising more than one adult in Dundee and Perth
Income levels will be updated and reviewed on a regular basis
What type of agreement will I have?
You will be issued with a Private Residential Tenancy, which is similar to the tenancy agreement provided for private rented housing. The agreement will be provided by Northern Housing Company which is a subsidiary of Hillcrest Housing Association.
The Private Housing (Tenancies) (Scotland) Act 2016 commenced on 1 December 2017 and introduced the new private residential tenancy. The new tenancy gives tenants improved security and stability. The tenancy is open-ended unlike short assured tenancies which had a minimum fixed term of six months.
Will I have to pay a deposit?
A deposit of £250 is required prior to taking entry. This is a security deposit and will be retained to meet the costs of any damage/dilapidation caused to the property by the tenant or for any unpaid rent after the property has been vacated.
The Housing (Scotland) Act 2006 made provision for the implementation of a Tenancy Deposit Scheme in Scotland and in March 2011 The Tenancy Deposit Schemes (Scotland) Regulations 2011 came into force which places a duty on landlords, who receive a deposit in connection with a tenancy, to protect this deposit with an independent third party. From 2 July 2012 landlords are required by law to protect this deposit by transferring the funds to the Approved Scheme.
Will my deposit be returned?
At the end of the tenancy, you will need to agree with us how the deposit should be allocated. Our Tenancy Deposit Scheme provider will then repay the deposit in accordance with the agreement unless there is a dispute between the parties over the deposit allocation.
If there is a dispute, the Scheme provider will ask for evidence from all parties as to how they feel the deposit should be allocated. It will then carry out an adjudication process and issue a draft report for review by all involved. Once comments have been received then there will be a final decision and the Scheme will pay out the deposit in accordance with that decision. This means that there will be delays in landlords and tenants getting their deposits back, particularly if there is a dispute.
When will my rent increase?
Your rent will normally be reviewed each year and any increase will generally take effect from 1 April.
Can I buy my property?
In most cases, you won’t have an opportunity to purchase your Mid Market Rent flat. However, we do offer rent now buy later initiatives on some of our properties. Please get in touch to find out more.