The Bond Scheme
The council has a bond scheme which offers you a council guarantee in place of a deposit. So instead of the tenant paying a deposit, the council indemnifies you against agreed losses for up to two years. The guarantee covers:
- Loss or damage to the property not caused by fair wear and tear
- Loss of income due to the tenant not paying the rent
- There is no need to protect a cash deposit (required in law)
- Claims for damage or loss of rent will be met by the council
Over the length of the bond the tenant is encouraged to save with a credit union so they can borrow the rest of the money they need to pay a deposit when the bond ends.
For more information see:
The Bond Scheme is one of the tools which Housing Options use to help people who are homeless or threatened with homelessness. If you come across potential tenants in this situation who cannot afford a deposit or if you want to know more please contact Housing Options on Burton (01283) 508120.