The Cambridge Affordable Housing Trust

The Cambridge Affordable Housing Trust was established by Cambridge Baptist Church after the Church became aware that an increasing number of elderly people in the church and the community were struggling to afford suitable housing and rental accommodation due to sharply rising property values in Cambridge. Because these people have limited income and assets, they cannot afford to move into one of the standard retirement villages that dominate the post-retirement housing sector in Cambridge and therefore are dependent on the local rental market. Unfortunately, the Cambridge rental market does not generally provide smaller units that have been equipped for the elderly, nor charge lower than market rents with security of long-term tenure. The Trust's aim is to be a social housing provider and to help meet the need by providing easy to maintain units for the elderly who do not own their homes and whose main or sole source of income is superannuation or a government benefit. The units are leased on a long-term basis and the rent is based on the tenant's income and not the current market rate for the unit. While the elderly with limited financial resources are the prime focus of the Trust, there is also a need to provide suitable low rent housing to others in the Cambridge community who may find it difficult to find housing due to limited resources coupled with long term physical or mental illness. Currently the Trust owns four small units of which three are rented to elderly with limited incomes and one which is rented to a tenant who is on a long-term sickness benefit. Two of the tenants attend the church while the other two are from the wider community. It is the Trust's intent to continue with tenants from both the church and wider community.
As the Trust rents the units on the basis of a person's income and not market rates, it is anticipated that the Trust will not make any profit from the properties and will also be dependent on the support of donors for acquisition, maintenance and running costs of the units. 
The Trust's criteria for the units is:
1. People over 65 who do not own their homes (or do not have the financial means to do so) and whose main or sole source of income is superannuation or a government benefit.
2. People under 65 who are on a sickness benefit or long-term benefit who do not own their homes (or do not have the financial means to do so) and are unable to find suitable rental accommodation in the market due to their disability or health issues
The Trust helps alleviate the financial and accommodation needs of it's beneficiaries by providing long term affordable housing at below market rates based on means. The Trust, when units come available, will advertise the units in the church and the wider community.

Our Trustees                 Donate to Cambridge Affordable Housing Trust

 

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