What is Mid-Market Rent?
Mid-Market Rent is affordable housing aimed at helping households on modest incomes access high-quality rented homes. Maximum income thresholds are determined by each Local Authority. Income can include employment earnings, benefits and pensions. Applicants with access to savings can also be considered.
It aims to help those who have difficulty accessing social rented housing, but may also not be in a position or have the means to buy their own home or rent privately.
As part of the qualification criteria, different income limits apply depending on the region that you are looking to rent a home in. To qualify, your household income at the time of applying should not exceed:
- £43,200 in Aberdeen
- £45,443 in Edinburgh
- £42,000 in Dundee
- £28,000 in the case of single person households in Perth and Angus
- £37,300 in the case of other households comprising of more than one adult in Perth
- £36,000 in the case of other households comprising of more than one adult in Angus
Income levels may be updated and reviewed on a regular basis.
You will be issued with a Private Residential Tenancy, which is the same as the tenancy agreement you’d get in the private rented sector.
The Private Housing (Tenancies) (Scotland) Act 2016 commenced on 1 December 2017, and introduced the private residential tenancy (PRT). This type of tenancy agreement gives tenants improved security and stability.
A deposit of £250 is required prior to entry. This is a security deposit and will be retained to cover the costs of any damage/dilapidation caused to the property by the tenant, or to go towards 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, which came into effect in March 2011. This places a duty on landlords, who receive a deposit in connection with a tenancy, to protect this deposit with an independent third party.
Landlords are required by law to protect this deposit by transferring the funds to an Approved Scheme.
At the end of your tenancy, you will need to agree with us how the deposit should be returned. Our Tenancy Deposit Scheme provider will then pay your deposit to you, unless there is a dispute.
If there is a dispute, the scheme provider will ask for evidence from both parties as to how they feel the deposit should be allocated. It will then carry out an adjudication process and issue a report to Hillcrest Enterprises and the tenant. Once comments have been received then a final decision will be made and the scheme provider will pay out the deposit in accordance with that decision.
This means that there may be delays in the deposit being refunded, particularly if there is a dispute.
Mid-Market Rents will be reviewed annually to take inflation into account, and any increases will generally take effect from 1 August.
In most cases, our Mid-Market Rent properties are not available for purchase. However, if any opportunities arise to purchase the property, tenants will be advised directly.
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