New scheme will let landlords lease properties through Welsh council
A new scheme which lets landlords lease property through a Welsh council has been launched.
Leasing Scheme Wales: Gwynedd gives landlords the opportunity to lease property for a guaranteed monthly rental income from the council with full tenancy management for a period of five to 20 years.
The scheme – funded by the Welsh Government – is designed to help more people to rent privately in Gwynedd and to make renting a more affordable option, by providing security and support for tenants and providing confidence for landlords.
This new scheme offers a long-term and stable solution by providing incentives for private landlords to lease property to Cyngor Gwynedd for affordable rent.
By taking part in the scheme, landlords will receive guaranteed rental income for the period of the lease, and access to grants of up to £5,000 to bring the property up to a specific standard.
The council will provide full property management and continued support for both tenant and landlord.
Councillor Craig ab Iago, Gwynedd Council’s Cabinet Member for Housing and Property said: “We are in a housing crisis, and the demand for homes at the moment is much higher than what is available in Gwynedd. There are currently more than 700 homeless people in the county and the options we have to accommodate them are very limited.
“By participating in the scheme landlords are guaranteed rent payments, even if the property is empty, and are also contributing to helping homeless people find accommodation locally. It’s essential that tenants receive the support they need, and this scheme will provide the support to help continue their tenancy in the long term in settled accommodation.
“I encourage anyone who has suitable property available to take part and get in touch to express their interest.”
Welsh Government Minister for Climate Change Julie James MS said: “We believe everybody should be able to live in a decent and affordable home, so improving access to longer-term affordable housing in the private rented sector is vital.
“That’s why we’re investing £30m into Leasing Scheme Wales to ensure we deliver security for tenants and confidence for property owners.
“I very much welcome this call from Cyngor Gwynedd for expressions of interest and look forward to hearing that there has been a positive response.”
For tenants, the scheme offers long-term and affordable accommodation in the private rental sector.
Regular high-level support and training will be offered to help people maintain their tenancy, supporting individuals to live successfully and independently in settled accommodation.
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