Council unveils improvement grants to help landlords offer affordable homes

Council unveils improvement grants to help landlords offer affordable homes

0:03 AM, 14th March 2024, About 4 months ago 1

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An affordable rented housing initiative has been unveiled by one council with grants for landlords of up to £15,000 to carry out home improvements.

The aim is to boost the number and quality of affordable rented homes for tenants.

The programme has been launched by Cherwell District Council in Oxfordshire and is open to any property owner.

They can fund energy efficiency upgrades and refit bathrooms and kitchens with the cash.

However, the Cherwell Bond Scheme stipulates that the landlord must let the property at an affordable rent.

‘A great way of supporting people’

The council’s portfolio holder for housing, Councillor Nicholas Mawer, said: “This is a great way of supporting people requiring decent accommodation and helping landlords invest in improving the quality of their properties.

“It is an excellent opportunity for landlords.

“Not only will they be eligible for an improvement grant, but they’ll also receive peace of mind as the council will provide support with finding tenants, organising viewings for their property and a deposit bond worth 10 weeks of rent.”

Convert a property into an HMO

The grant can also be used to convert a property into an HMO with ongoing support from the council during a tenancy.

Landlords will also benefit from a £1,000 one-off payment when signing an initial 12-month tenancy agreement.

There’s also help, the council says, for help with the property’s gas and fire safety.

Landlords interested in the Cherwell Bond Scheme can contact the council for more information.

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Paul Essex

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15:09 PM, 14th March 2024, About 4 months ago

I just looked at the small print. To get the grant you have to agree to accepting only the LHA rate for TEN YEARS!

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