Mid Market Rent Frequently Asked Questions

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1 Mid Market Rent Frequently Asked Questions Partick Works Ltd - MidMarketRent@partickha.org.uk This leaflet should give you a general overview of Mid Market Rent. If your question is not answered here, please call, or us or MidMarketRent@partickha.org.uk and we will do our best to help you. What is Mid Market Rent? 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, provided by Partick Works Ltd, aims to help people who have difficulty accessing social rented housing, buying their own home, or renting privately. To qualify you must be employed, or have an offer of employment and have a gross annual household income between 22,800 and 40,000 What type of agreement will I have? You will be issued with a Short Assured Tenancy Agreement, which is similar to the tenancy agreement provided for private rented housing. The agreement will be in the name of Partick Works Ltd which is a subsidiary of Partick Housing Association. The Housing (Scotland) Act 1988, which governs Short Assured tenancies, states that the tenancy must run for a minimum period of 6 months. After the initial 6 months have elapsed the tenancy will continue on a monthly basis thereafter. More detailed information on Short Assured Tenancy Agreements will be issued to you by our Housing Team as part of the allocation process. The Shelter website also contains useful information on Short Assured Tenancies Will I have to pay a deposit? A deposit of one month s rent will be 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.

2 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. How is my rent set? The rent you pay will be approximately 33% higher than that for a comparable social rented property, but lower than a privately rented home. When will my rent increase? Your rent will normally be reviewed each year and any increase will generally take effect from 1 September. Can I buy my property? You won t have an opportunity to purchase your Mid Market Rent flat. Can I decorate my property? We have finished all properties so that you have no need to decorate. We will not allow you to paint, wall paper or change the flooring. You can put pictures on the walls, hang your own curtains, and accessorise the flat as you wish. Can I choose my white goods/floor coverings? The flats have been fitted with A rated energy efficient graphite Hotpoint whitegoods including a tall fridge freezer, washer/dryer, dishwasher, oven, ceramic hob, cooker hood, and shower. Flooring is provided throughout the flats including carpet in living room and bedrooms, wood effect vinyl in the hall and kitchen, and vinyl in the bathroom. Bedroom windows have been fitted with light blackout fabric roller blinds, whilst kitchens and smaller livingroom windows with fabric roller blinds. Our properties have a large livingroom picture window where we ve fitted a curtain pole for you to dress as you wish. Who is responsible for maintaining the property? Partick Works Ltd, as landlord of your property, are responsible for the ongoing maintenance. Full details of the respective repairs responsibilities (yours and ours) will be issued to you as part of the allocation process. If my financial situation changes what should I do? If there are any changes to your financial situation which mean you will have difficulty paying your rent, you must contact Partick Housing Association as soon as possible and they will talk you through what your options are, you may be eligible to receive Housing Benefit from the local authority. What are the design specifications for Mid Market Rent? Mid Market Rent properties will normally be designed to the same high quality specification as our housing for sale. Although additional items are included including white goods or floor coverings, our Mid Market Rent properties will be let on an unfurnished basis.

3 Will I be allowed to keep a pet? You must apply for permission to keep a pet. Can I view my property before signing my tenancy agreement? Yes you will have the chance to view your property before signing any agreement. We will invite you to a viewing when your application has been assessed. How do I apply? All the Mid Market Rent flats are currently let. Any vacancies will be advertised on the website.

4 How do we substantiate your Application? In order to assess your application we need evidence of your household income, below is our list of acceptable evidence: Wages Gross wage used in calculation 1 Monthly last 3 months payslips Fortnightly last 6 payslips Weekly last 13 weeks payslips P60 for the previous tax year If pay is verified by bank statements 2 then applicants will be asked to provide details of their gross income to ensure that all applicants are assessed on the same criteria Not in Employment but have Offer of Employment Copy of offer letter from new employer which confirms gross starting salary. Tax Credit HMRC Tax credit award letter or 3 current and consecutive bank statements showing payments made to applicant. Child Benefit Child Benefit payment award. Child Tax Credit HMRC Tax credit award letter or 3 current and consecutive bank statements showing payments made to applicant Self Employed Earnings Applicants will be expected to provide audited accounts for the previous year or comprehensive accounts for year to date if the business has just recently started operating Child Maintenance Payments 3 current and consecutive bank statements 1 Payslips must show: Bank Statements must show: Applicant s name Applicant s name and address Employer s name Pay dates/pay period Gross pay/net pay 2 If you are unable to provide salary information we can also accept evidence of your employment from a copy bank statement, along with a copy of your contract or a letter from your employer confirming current employment and gross salary. This must be on company letterhead paper and signed.

5 Bonuses/Commission Monthly last 3 months payslips Fortnightly last 6 pay slips Weekly last 13 weeks payslips Where amounts vary we will use the lowest value as primary income, not an average of the amounts for assessing affordability Overtime/Shift Allowances Monthly last 3 months payslips Fortnightly last 6 pay slips Weekly last 13 weeks payslips Where amounts vary we will use the lowest value as primary income not an average of the amounts for assessing affordability Pensions Monthly 3 pension statements Fortnightly 6 pension statements Weekly 13 pension statements Annual award letter current year If pension is verified by bank statements then applicants will be asked to provide details of their gross income to ensure that all applicants are assessed on the same criteria 3 Shareholder Profits Dividend Statement Other Benefits MMR is aimed at primarily at economically active households. Where somebody in a household applying is not working exceptions can be made in appropriate circumstances, e. g. where the household includes a person with a disability and where current housing costs are unaffordable e. g. in the private rented sector. In these cases non-working benefits will be taken onto account in assessing eligibility. 3 If you are unable to provide pension statement information we can also accept evidence of your pension from a copy bank statement, along with a letter from your pension provider confirming gross pension income. This must be on company letterhead paper and signed.

6 Mid Market Rent Accommodation Available or Level Size Area Flat Address Flat Plan Rent from G 1 BEDROOM 59.6m² Flat 0/4 1 Centurion Way G3 8NT G 1 BEDROOM 68.1m² Flat 0/1 1 Centurion Way G3 8NT BEDROOM 59.6m² Flat 1/4 1 Centurion Way G3 8NT BEDROOM 59.6m² Flat 3/4 1 Centurion Way G3 8NT Please note we don t have any properties available to let with a balcony or roof terrace.

7 Mid Market Rent Rents & Income or Allocations will be based on an applicant s household income with priority given in the first instance to PHA tenants and their dependants. Flats will be fitted will all white goods, flooring and window coverings. Income requirements Rents 2013/14 Council tax Bandings Min / Max Household Gross Income (10 of 12 months) 1 bedroom From 472 per month Rents will be subject to yearly increases each September. D per month 22,175 per year 40,000 per year All service charges will be in addition to the rent, these costs aren t confirmed but are expected to be between per month and will include charges for close cleaning, Lift maintenance, landscaping, white good servicing etc. Gross household incomes include total earnings and tax credits, child benefit, pension payments, etc. Applicants will need to provide evidence of their income. Priority groups Priority will be given to the following groups in order: 1. Partick Housing Association Tenants or Dependants 2. Current Tenants of other Housing Associations 3. Applicants living in Private Rented Accommodation or with friends/family Applications will not be accepted from current owner occupiers or equity holders. Allocations No. occupants Min Max 1 bedroom 1 person 2 people 2 bedroom 2 people 4 people 3 bedroom 3 people 6 people Applicants can apply for a flat which is 2 bed spaces larger than required. Where an applicant has shared custody of children, the child can be considered a full occupant. We cannot count an unborn child as part of the household until the pregnancy is past 20 weeks. Should an applicant meet the income requirement flats will be allocated on a first come basis within the priority groups. The tenancy will be a Short Assured Tenancy Agreement with Partick Works Ltd Ltd Applicants should be aware they are not a Housing Association Tenant.