LAR is a new investment vehicle that will provide up to 1,000 affordable homes for rent across Scotland and was launched in October 2015. It is a Scottish charity set up to provide long term mid-market rented housing and is funded by a £55 million loan from the Scottish Government, with matching private investment expected to lift the overall funding package to more than £100 million.
The Equality Impact Assessment (EQIA) has shown that LAR will have a positive impact across a number of groups through the provision of long-term affordable housing. In doing so, tenants will have a safe, well maintained house which they can call home and support the development of strong local communities.
There will be continuing housing obligations on LAR to meet and promote equalities duties and LAR will report regularly to the Scottish Government to ensure this is achieved.