A new pilot scheme to provide better access to longer term affordable and good quality housing in the private rented sector is underway in Cardiff.
Cardiff Council has said they are keen to work with residential landlords in the city who have properties available to lease to the authority for a period of five years, to increase the amount of affordable homes available for tenants.
The scheme is funded by Welsh Government and will be managed by the Council, offering a signiﬁcant range of support services and beneﬁts to private landlords and tenants, including:
- Financial assistance to improve a property;
- A guaranteed rental income even if the property is empty;
- Responsibility for repairs and maintenance throughout the lease period;
- Tenancy management functions and ongoing housing support for the resident.
Financial assistance is available for landlords interested in the scheme, but whose properties are in need of renovation to meet Welsh Government standards for leasing. A non-repayable grant of up to £2,000, plus an interest free loan of up to £8,000 repayable over four years, are on offer for necessary improvements.
Cabinet Member for Housing and Communities, Cllr Lynda Thorne, said: “We’re really pleased to be working with Welsh Government on this new leasing scheme. The lack of enough good quality, affordable housing in the city is well-known and while we are building new council homes at pace across the city to help tackle this high demand, the private rented sector remains an important source of Cardiff’s affordable housing market.
“We’re encouraging landlords with homes to rent in Cardiff to lease unfurnished properties to us for five years to provide homes for people in need of good quality, affordable accommodation. We’re looking for a range of different property types and sizes, particularly larger family homes, in all parts of the city.
“The Council will undertake the day-to-day management of the property, there’s a guaranteed income of 90% of the Local Housing Allowance rate paid direct to the landlord whether the property is occupied or not, regular inspections and full housing support to the resident to ensure the tenancy is a success for both parties.
“We believe this is a really attractive proposition for landlords in the city. Maybe you’ve inherited a property and you’re not sure if you want to sell right now but don’t want to leave it empty or you might be a landlord keen to scale back your involvement in letting and managing your property to have more time to yourself. Perhaps you’re a landlord looking for more stability with your rental income. We want to hear from you so please get in touch to help us create more affordable homes in the city for people who need them.”
To find out more about the leasing scheme including further details about eligibility criteria, please see our website, email [email protected] or call 029 20 537 596.