Intermediate Rent (IMR)
With Intermediate Rent, you are able to rent a brand new or refurbished home at around 80% of the market rate. The rent charged is lower than you would expect to pay for a similar home in a similar area if you were renting from a private landlord and you have the assurance that your home is built, managed and let by the Council.Octavia House, which is located in Merton Road, Wandsworth and close to mainline rail services, offers a selection of ten 1-bed and two 2-bed units which are available to key workers.
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Traditionally IMR has been an option only open to key workers. However, the economic situation has necessitated a degree of flexibility whereby other home seekers may now be eligible if they do not qualify for social housing or do not have the means to purchase a property unaided.
IMR is ideal for those who cannot commit to buying a home or are struggling to obtain mortgage finance, but still have the ambition of buying their own home within five years. IMR homes tend to be let out on an Assured Shorthold Tenancy basis and the contract period is six months.