Maple & May to deliver 300 intermediate rent homes in Northern Ireland

Maple & May has announced plans to develop 300 new affordable rented homes across Northern Ireland over the next five years, delivering the first ‘Intermediate Rent Homes’ scheme in partnership with the Department for Communities.

Minister for Communities, Gordon Lyons MLA announced this week that his department will make funding available for Maple & May to be the first to deliver a new affordable private rental product for the Northern Ireland housing market, offering high-quality, longer-term housing to eligible lower income households.

It offers homes at discounted rents compared to local open-market rents, helping those struggling with the cost of private rentals and others who are saving towards home ownership. Once built, eligible lower income households can apply for a tenancy with rents set at least 20% below market rent levels for the locality.

Jon Anderson - Development Director at Maple & May said,

“We believe that people deserve great services and standards in homes, and this is an exciting opportunity for Maple & May. As the first Intermediate Rent Operator in Northern Ireland, we plan to address housing need by building intermediate homes for rent, both within mixed tenure developments, alongside social and private homes, and as standalone Intermediate Rent sites enabling further options for eligible lower income households to apply for a high quality and stable home at a more affordable rent”.

Eligibility to apply for a tenancy will be based around income, with single adult household income capped at £30k net and two adult household income at £40k net. This scheme will play a key role in delivering the NI Executives Housing Supply Strategy.