Policy information sourced from the Southwark Local Plan 2022
P4 Private Rented Homes
- New self-contained, private rented homes in developments providing less than 100 homes must comply with policy P1.
- New self-contained, private rented homes in developments providing 100 homes or more must:
- Provide security and professional management for the homes; and
- Provide a mix of housing sizes, reflecting local need for rented property; and
- Provide the same design standards required for build-for-sale homes; and
- Provide tenancies for private renters for a minimum of three years with a six month break clause in the tenant’s favour and structured and limited in-tenancy rent increases agreed in advance; and
- Meet Southwark’s Private Rent Standard; and
- Be secured for the rental market for a minimum 30 year term. Where any private rented homes are sold from the private rented sector within 30 years this will trigger a clawback mechanism resulting in a penalty charge towards affordable housing; and
- Provide maximum amount, with a minimum of 35% affordable homes in accordance with policy P1 or Table 3, subject to viability. Where the provision of private rented homes generates a higher development value than if the homes were built for sale, the minimum affordable housing requirement will increase to the point where there is no financial benefit to providing private rented homes over build for sale homes; and
- Be subject to a viability review to increase the number of and/or the affordability of affordable homes where an improvement in scheme viability is demonstrated between the grant of planning permission and the time of the review.
- Discount Market Rent homes at social rent equivalent must be allocated to households on Southwark’s social housing waiting list. All other Discount Market Rent homes must be allocated in accordance with Southwark’s Intermediate Rent Housing Policy.
| Market Housing | Up to 65% |
|---|---|
| Social Rent Equivalent | A minimum of 15%* |
| Affordable rent capped at London Living Rent equivalent | A minimum of 20%* |
| Affordable Housing | A minimum of 35% |
* Applicants must meet the minimum requirement. If social rented equivalent and affordable rent capped at London Living Rent equivalent housing provision marginally falls below the minimum, we will not accept rounding up. This may increase the overall quantum which should be in favour of affordable rent capped at London Living Rent equivalent. This is separate to our consideration of social rent in conventional housing which is always our overall priority.
For more information please see the Southwark Local Plan 2022