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A total of 300 new homes will be built across Northern Ireland under a new rental scheme, the Department for Communities has said.<\/p>\n
The intermediate rent model will offer a below-market rate to help those on lower incomes who earn too much to qualify for social housing but are priced out of the private sector.<\/p>\n
The homes will be built by property company Maple & May and it is hoped the first tenants will be in place from late 2026.<\/p>\n
Communities Minister Gordon Lyons said the scheme was an important step for hard working people and families struggling to access a home suited to their needs. <\/p>\n<\/div>\n
Eligibility for an intermediate rental property will be income-based and those eligible will be able to apply for the houses once advertised. <\/p>\n
It is understood a single adult household must have an annual income of less than \u00a330,000 and less than \u00a340,000 for two-adult households, <\/p>\n
Rent under this model should not be more than 30% of the household income. <\/p>\n
It is understood as part of the intermediate rent model, tenancy deposits will not be upfront, but can be paid over a period of time. In addition, the tenancy agreement can be made for up to five years.<\/p>\n
It is understood the houses will be built across 11 sites, with expected locations to include Belfast, Londonderry, Lisburn and Dungannon. <\/p>\n
Lyons said: “I am pleased to reach this significant milestone, partnering with Maple & May to deliver the first affordable rent homes here as Intermediate Rent Operator. These will be high quality new build houses, providing excellent homes.”<\/p>\n
Building work is expected to start at the beginning of 2026 and be available to rent later in the year. <\/p>\n<\/div>\n
Development director at Maple & May Jon Anderson said: “We believe that people deserve great services and standards in homes and this is an exciting opportunity for Maple and May to deliver 300 new affordable homes across Northern Ireland.”<\/p>\n
Mr Anderson added that the company planned to build intermediate homes for rent, both within mixed tenure developments, alongside social and private homes, and as standalone intermediate rent sites.<\/p>\n<\/div>\n