The Localism Act introduced a duty for local authorities to produce a Tenancy Strategy. This is required because of changes to the way that social housing is financed and the introduction of affordable rents. These can be set at up to 80% of local market rents, with the option to use fixed-term tenancies of a minimum of 5 years. This compares to traditional rents for social housing, which are at about 50% of open market rents, with lifetime tenancies.
The new rents and tenancies can be used by Registered Providers of social housing in new build housing and by converting a proportion of their re-lets of existing properties from social to affordable rent. Registered Providers are required to publish policies setting out their approach to tenancy management, including the use of the new tenancies.
The Tenancy Strategy was adopted in January 2013, following consultation with the providers of social housing in Newark and Sherwood and other stakeholders.
What the Tenancy Strategy contains
The Tenancy Strategy sets the high level aims that the strategy and tenancy policies of Registered Providers should be looking to achieve. It also includes some contextual information about the Newark and Sherwood housing market and levels of housing need in the District.
Specifically it sets out the Council's expectations of Registered Providers with regard to:
- affordability of rents
- length of tenancy
- circumstances under which a fixed-term tenancy might not be renewed
- governance arrangements and monitoring how the new tenancies are working.
Tenancy Strategy Document (PDF File, 286kb)