A council is attempting to woo landlords to lease their properties for up to 20 years in return for a guaranteed monthly rental income and a full management service.
Leasing Scheme Wales is funded by the Welsh Government and managed by Pembrokeshire county council and is being launched formally next week.
It says it wants to access “affordable and good quality homes” in the private rented sector for people who are on low income and at risk of homelessness.
It means tenants will be able to access longer term, settled accommodation for up to 20 years, with rents restricted to local housing allowance levels “to ensure affordability to tenants on low incomes and/or benefits.”
Homes to be taken on board by the scheme will need to meet a specific standard and Pembrokeshire council says financial assistance will be provided to enable landlords to bring homes up to scratch.
A spokeswoman for the council says: “We want our tenants to be happy, healthy and settled and we will support them to maintain their tenancy by directing them to sources of help if they need them.”
She adds that the scheme also gives peace of mind to landlords.
“Landlords will not have to worry about the condition of their properties after a tenancy as we will be responsible for the maintenance of the property and will return it to the landlord in the same condition as it was before the tenancy started. We will also be responsible for all the void work – the work done on properties in between tenancies.”
Landlords are offered leases of five to 20 years with guaranteed rental payments for the length of the lease at the relevant Local Housing Allowance rate.
Where necessary a grant of up to £5,000 is available to bring properties up to an agreed standard and/or to increase the EPC rating to level C. Additional grant funding of up to £25,000 is available for empty properties.
The council will repair any damage to the property made by tenants covered, subject to reasonable wear and tear, and the landlord’s liability for structural defects. This would form a term of the lease.
