A housing association is pioneering the concept of Intermediate Market Rent.

A statement from the association – L&Q – says: “Designed to bridge the gap between social housing and the private rental sector, Intermediate Market Rent enables eligible households to rent a home at below-market rates, typically around 20% less than comparable homes in the local area. 

“The scheme is aimed at working households whose incomes may not stretch to open market rents, particularly in areas where housing costs continue to rise. For many tenants, the product can provide a more affordable route to renting, offering greater financial flexibility without compromising on quality.”

L&Q currently offers a range of Intermediate Market Rent properties across London and the South East, including contemporary city-centre apartments and rural family homes in a variety of locations. 

Andrea Palmer, Head of Intermediate Rent at L&Q, comments: “With rental affordability continuing to be a significant challenge for many households, Intermediate Market Rent plays an important role in improving access to quality housing.

“The product is designed to support people who may not qualify for social housing, but who are finding the private rental market increasingly difficult to afford.”

The association says Intermediate Market Rent can be particularly beneficial for key workers and other employed households who are looking to reduce their housing costs while maintaining access to areas with strong employment opportunities and transport links. 

Unlike Shared Ownership, IMR allows residents to rent their home rather than purchase a share, making it an attractive option for those who are not yet ready to buy but are seeking an alternative to the mainstream private rental market.