Market rental homes
Market rental homes are rental properties offered at competitive prices to employed individuals and those who can afford the standard market rent. Here's what you need to know about our market rental homes, the services we offer, and the application process:
- Most of our homes are rented to people on lower incomes at lower rents
- We also have homes in Hampshire, Surrey, and Berkshire that we rent out at standard, market rent for six to twelve months
- Overall it doesn’t matter how much you earn, as long as we’re sure you can afford the rent and meet our tenancy checks
- There is no maximum saving to be able to register
- You can apply if you're in receipt of benefits - we'll calculate what you're entitled to. Our market rental homes will be subject to Local Housing Allowance (LHA) rates which means Housing Benefit or Universal Credit may not cover the full rent
- We are an ethical landlord that protects your deposit, provides proper notice before you have to leave
- We allow pets in all of our market rental properties
- A small number of our market rental properties have the option of 'Rent to Own'
- Our properties come unfurnished, except for white goods and flooring
- You can apply for our market rental homes by registering your interest on Rightmove or completing an application form
- We conduct affordability, employment, landlord, and credit checks for our market rental homes. We use an independent credit agency to check your credit score. This won’t cost you anything. You’ll be required to have a credit score of ‘good – fair’, along with passing the affordability check.
- We won’t normally accept applicants with County Court Judgement or Individual Voluntary Arrangement. If you apply, we will review each case individually
- To apply, you need to provide wage slips for the previous three months and bank statements, or your most recent tax return if you're self-employed
- We expect rent and debt payments not to exceed 45% of your total income
- We don't accept guarantors
- We require a security deposit equivalent to one month's rent, along with a minimum of one month's rent in advance.
- Your monthly rent will be paid in advance by direct debit on the first day of each month
- You'll need to provide a photo ID, a selfie with your ID, three months' payslips or the last three years of your tax return, the last three months' bank statements, and a total figure of your monthly loan and credit card repayment
- You're required to give one months’ written notice
- You can do this by requesting a 'End of Tenancy' form via Live Chat or by emailing VIVDlettings@vividhomes.co.uk. In your email you will need to include your full name, date of birth, your VIVID address, the reason you are moving (such as the home is too big or small) and your forwarding address. Emails need to be from the email address we have registered for you
- You can only give notice if you are our tenant or if you have Lasting Power of Attorney on behalf of a tenant, which we’ll need to see proof of
- Your notice period will start from when written notice is received