The Rent Deposit Bond Scheme

8 04 2011

Hello from Sunny Stoke again 🙂

We have, due to the economic environment at present, received several requests lately regarding our acceptance of the ‘Bond Scheme’ so we thought we would just provide some background information on this scheme.

Stoke-on-Trent City Council state that they have a duty to provide accommodation to households who are eligible for assistance, in priority need, not intentionally homeless and with a local connection. The duty is to provide them with permanent housing but as there is a huge waiting list for this in the local area, they find that they have to offer temporary accommodation first. To enable them to better re-house homeless households into secure accommodation they want to make better use of the private rented sector.

Their scheme is aimed at helping people into the private rented sector where they otherwise might not be able to gain accommodation because of the difficulties in raising either a deposit or rent in advance. The overall aim of the scheme is to provide enough financial reassurance to landlords to encourage them to accept tenants that have approached the Council for assistance.

The Council is able to provide:
• The equivalent of one months rent paid directly to the landlord towards a  deposit on a property, sometimes more in exceptional circumstances. This will be re-paid to the Council by the tenant in the form of an interest free loan.
• One month’s rent in advance paid direct to the landlord at the start of the tenancy. This will be re-paid to the Council by the landlord once the tenants claim for Housing Benefit has been processed.
• Speedy housing benefit assessments
• Tenancy support for the applicant once housed in the private rented sector from a organisation which provides housing support services where appropriate
• A named contact for the landlord and letting agent

For further information on this contact your local council.

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