We're making your tenancy more secure!
We’re in the process of converting over 800 Probationary and Fixed Term Affordable Rent Tenancies into Lifetime Tenancies.
This means if you live in an Affordable Tenancy home (properties that have been capped at the level to be no more than 80% of local market rent), we’ll be asking you to sign a new tenancy agreement for a lifetime tenancy (this ensures the customer holding the lifetime tenancy has the right to stay in the property for as long as they are alive).
Why are we doing this?
Affordable Rent Tenancies were originally introduced in the form of Fixed Term Tenancies (a tenancy lasting 5 or 10 years). Some customers were worried about losing their homes at the end of the fixed period and there have been occasions with mutual exchanges where applicants have refused to exchange due to lack of security. We have looked at current legislation and terms of the Tenancy Agreements and it is now agreed that we are able to grant Affordable Rent Tenancies on a Lifetime Tenancy. These are periodic tenancies running from month to month with no end date.
All our new Affordable Rent Tenancies will be either probationary or Lifetime, with the probationary ones automatically converting to lifetime.
We do however have some historical tenancies that are still on Fixed Term and we will be contacting these customers to convert their tenancies so none of our customers are at a disadvantage.
Our dedicated team are working through the process and will be calling customers affected to support you through this by helping you sign the new tenancy agreement through Adobe Sign digitally where possible.