Affordable Housing
Traditionally, affordable housing was built and managed by councils. However, over the last fifteen years or so the emphasis has changed considerably with the role of councils moving from providers of new accommodation to enablers. Generally, the main route for introducing new affordable housing is thorough Registered Social Landlords (RSL’s) often referred to as Housing Associations.
Definition of Affordable Housing
Affordable housing is subsidised housing available to people who can not afford to rent or buy houses generally available on the open market. This includes rented accommodation provided by a local authority or a RSL together with houses at prices or rents above those of social rent but below market prices or rents.
It has been determined that for a home to be affordable the household should not pay more than 25% of their net income in rent or mortgage payments.
