Last month Lambeth Council revealed their plans for housing in the Borough. They have been working on a new strategy for a while, including doing several public consultations. The New Homes Programme details the ambitious plans they have in mind for the next six years. We want to have a look at it here to see what it means for the area. Then, if you need help with things like guaranteed rent in Lambeth, you can speak to us.
Building more homes
The headline figure is the council is aiming to build a minimum of 500 new affordable homes between now and 2030. These will be on land that the local authority owns, making it easier to bring them forward.
This is an ambitious target if we consider the Council’s record. Since 2017 they have delivered 392 homes on their land. Of these, 236 are currently for council rent and 32 are available for affordable rent. The remaining 124 were for sale at market rate. In addition, 135 homes are currently under construction (109 for council rent). The authority will need to exceed these numbers to deliver 500 more affordable homes.
Why is it necessary?
It will be interesting to see if Lambeth Council can achieve their goal here. We’ll be keeping an eye out for developments as they can potentially offer great opportunities for investors. If homes do become available to buy, we can arrange guaranteed rent in Lambeth and other services.
It is clear why more housing is necessary here. According to their figures, over 43,000 households are on the waiting list for homes. That is one of the largest lists in the city.
More worryingly, over 4,000 households currently live in temporary accommodation. That is a massive problem for the council because of the costs. It is also very hard for the residents as it means they don’t have secure long term housing. In some cases they can be living in hotels and B&Bs far from family and friends.
An impressive detail
Another significant piece of information about the New Homes Programme is the Council will focus on engaging with locals to deliver better standards. They want to make sure Lambeth is a better place for people to live.
A key thing here is the local authority will look to deliver the type of housing locals need. Plus, they will ensure it is the kind of quality they deserve.
Beyond that, the council will look to work with locals to approach things like property management and estate renewal. It will shape their whole strategy for repairs, especially when it comes to things like damp. They have chosen to do this because of a new focus on resident satisfaction.
Thinking about trying guaranteed rent in Lambeth?
The new housing strategy is good news for the borough. A big part of it is the council will be looking to deliver many of the new homes themselves. However, they will also work with developers where necessary. This could in turn inspire even more new developments across the borough.
If you decide now is a good time to invest in assets in the area, or already have a portfolio of them, you should consider working with us. We arrange rent guarantees, management, and more. It is rewarding, protecting your income and providing security in case of voids and problematic tenants.
You can learn more about guaranteed rent in Lambeth by getting in touch with us. We can share details, including what you need to do and the rewards you can enjoy.
