London Affordable Rent definition

London Affordable Rent means either:
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London Affordable Rent means a weekly rent which does not exceed the Benchmark Rent Level (exclusive of service charges) for an equivalent property of the relevant size and number of bedrooms such rent to be assessed and set in accordance with the applicable requirements of the Affordable Housing Capital Funding Guide, Legislation, the Rent Standard and any other relevant guidance issued by the Regulator (as any of the same may be amended, replaced or updated from time to time);
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London Affordable Rent means low cost rented homes complying with the requirements designated for this type of tenure (including rent levels falling within the prescribed benchmarks) in the Mayor of London's Homes for Londoners Affordable Homes Programme 2016-21 Funding Guidance dated November 2016;
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Examples of London Affordable Rent in a sentence

  • Policy H7 of the draft London Plan and the Mayor’s Affordable Housing and Viability SPG sets out a preferred tenure split of at least 30% low cost rent, with London Affordable Rent as the default level of rent, at least 30% intermediate (with London Living Rent and shared ownership being the default tenures), and the remaining 40% to be determined in partnership with the local planning authority and the GLA.

  • In 2016 the Mayor of London introduced the London Affordable Rent on all new schemes funded with Greater London Authority (GLA) grants.

  • The proposed development would deliver 77 affordable homes as London Affordable Rent and Intermediate Shared Ownership tenure.

  • The Mayor of London’s preferred Tenure split is 30% London Affordable Rent, 40% capped affordable rents and 30% intermediate.

  • Where affordable housing that is replacing social rent housing is not facilitating a right of return, it may be provided as either social rent or London Affordable Rent housing.

  • The Greater London Authority and the Council do not consider 80% of market rents to be genuinely affordable in most parts of London, and therefore seek schemes to deliver homes let at London Affordable Rent levels, which is substantially below 80% of market rents.

  • London Affordable Rent should be the default level of rent, and should be assumed by applicants in the absence of alternative guidance from LPAs on the rent levels that they consider to be genuinely affordable.

  • The provision therefore of London Affordable Rent units is welcomed by officers.

  • RPs that are developing Affordable Rent under an agreed grant agreement may use their RCGF to provide additional Affordable Rent (which includes London Affordable Rent) property, with GLA approval.

  • An increasing number of homes are either London Affordable Rent (at similar levels to Social Rent) or London Living Rent (set at a third of median income for the borough).Different tenure types are aimed at different income levels and there are restrictions in place through the grant regime used to build the homes.

Related to London Affordable Rent

  • Affordable Rent means a rent which does not exceed eighty per centum (80%) of the market rent (inclusive of service charges) for an equivalent property of the relevant size and location such rent to be assessed and set in accordance with the applicable requirements of Legislation and of the Rent Standard;

  • Affordable Housing Cost means an amount satisfied by:

  • FHA Approved Mortgagee means a corporation or institution approved as a mortgagee by the FHA under the National Housing Act, as amended from time to time, and applicable FHA Regulations, and eligible to own and service mortgage loans such as the FHA Loans.

  • Affordable development means a housing development all or a portion of which consists of restricted units.

  • Cathodic protection means a technique designed to prevent the corrosion of a metal surface by making that surface the cathode of an electrochemical cell. For example, protection can be accomplished with an impressed current system or a galvanic anode system.

  • Affordable Unit means a housing unit proposed or created pursuant to the Act and approved for crediting by the Court and/or funded through an affordable housing trust fund.

  • High Cost Home Mortgage Loan as defined in the Massachusetts Predatory Home Loan Practices Act effective November 7, 2004 or (iv) a "High-Cost Home Loan" as defined by the Indiana High Cost Home Loan Law effective January 1, 2005.

  • Rehabilitation counseling services means services provided by qualified personnel in individual or group sessions that focus specifically on career development, employment preparation, achieving independence, and integration in the workplace and community of a student with a disability. The term also includes vocational rehabilitation services provided to a student with disabilities by vocational rehabilitation programs funded under the Rehabilitation Act of 1973, as amended.

  • Affordable housing means housing that is available at a cost low enough to meet the needs of eligible households having regard to local incomes and local house prices and which will remain at an affordable price for future eligible households or, if not, that the subsidy is recycled for alternative affordable housing provision

  • Ex-situ conservation means the conservation of components of biological diversity outside their natural habitats.

  • In-situ conservation means the conservation of ecosystems and natural habitats and the maintenance and recovery of viable populations of species in their natural surroundings and, in the case of domesticated or cultivated species, in the surroundings where they have developed their distinctive properties.

  • CIC Protection Period means the two-year period beginning on the date of a Change in Control and ending on the day before the second annual anniversary of the date of the Change in Control.

  • Affordable housing development means a development included in the Housing Element and Fair Share Plan, and includes, but is not limited to, an inclusionary development, a municipal construction project or a 100 percent affordable development.

  • Basic health care services means in and out-of-area emergency services, inpatient hospital and

  • Rehabilitation services means face-to-face individual or group services provided by qualified staff to develop skill necessary to perform activities of daily living and successful integration into community life.

  • Rural area means any county with a population of fewer than twenty thousand individuals. "Small business concern," as used in this clause, means a concern, including its affiliates, that is

  • School premises means either of the following:

  • School building means any building in which any of the instruction, extracurricular activities, or training provided by a school is conducted, whether or not any instruction, extracurricular activities, or training provided by the school is being conducted in the school building at the time a criminal offense is committed.

  • refugee (“ffoadur”) means a person who is recognised by Her Majesty’s government as a refugee within the meaning of the United Nations Convention relating to the Status of Refugees done at Geneva on 28 July 1951 as extended by the Protocol thereto which entered into force on 4 October 1967;