Shetland Council agrees to set up mid-market rent organisation

Shetland Council agrees to set up mid-market rent organisation

Six one-bedroom properties are proposed for mid-market rent tenancies in Lerwick (Image credit: Shetland Islands Council)

Shetland Islands Council is to set up an arms-length external organisation to deliver and manage tenancies on local properties at mid-market rent.

Backed by councillors yesterday, the approach aims to address a gap in the local housing market by creating options for those either unable to access social housing or who can’t afford to buy or rent properties at market rates.

Councillor Dennis Leask, chair of development at the council, said: “I’m delighted that councillors today agreed to progress this project to create affordable homes available for mid-market rent in Shetland. There’s a very small private rental market locally, affordability is challenging, and it’s well known that the housing market is under pressure.

“This is an innovative project for Shetland that will increase local housing diversity and help some of those looking for a home who might otherwise be unable to do so. We need more affordable homes and this mid-market rental project is part of the solution for us to achieve that.”

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