Housing association L&Q is to develop a portfolio of homes for rent in London and the South East.
The launch marks the start of L&Q’s plans to develop 5,000 rental homes over the next five years using purpose-built and newly refurbished properties.
Diane Hart, L&Q’s group director responsible for the new portfolio, said: “We understand that renting is increasingly becoming a lifestyle choice for those who appreciate a more flexible and hassle-free living arrangement.
“This shift, coupled with rising house prices, has put the current rental sector under huge pressure. As a result, homes with the right quality, value and location from trustworthy landlords are in very short supply.”
L&Q, founded in 1966, rents around 800 homes privately from its portfolio of 70,000.
It made the announcement at the official launch of its Thurston Point development in Lewisham, SE13.
Rents for the 238 homes at Thurston Point start at £1,250 for a one-bedroom unit and rise to £1,900 a month for a three-bedroom apartment.
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