Welsh council initiative to attract private landlords

A Welsh council has launched a programme to lease properties from PRS landlords so they can offer affordable homes to local people.

Newport City Council says that landlords are leaving the sector ‘for different reasons’ and wants them to remain.

To do that, it is offering landlords a range of initiatives through the Leasing Scheme Wales, which is funded by the Welsh government.

The scheme aims to combat the lack of affordable homes to rent.

Landlord benefits include ‘a guaranteed rental income for the length of the lease (at the relevant Local Housing Allowance rate) – meaning no rent arrears and no voids’.

Landlords are moving out

The council’s cabinet member for housing and planning, Cllr Saeed Adan, said: “We are committed to helping as many people as possible find sustainable, long-term homes and this scheme can contribute to that aim.

“Like many places in the UK, Newport has experienced an unprecedented housing crisis with more people facing homeless and demand for accommodation outstripping supply.

“One factor has been the decrease in the number of private rented properties as landlords move out of the market for different reasons.”

He added: “LSW takes the ‘hassle’ out of letting properties and we hope this will encourage owners to continue as landlords and help provide much-needed homes for our residents.”

Meet the EPC standard

The council also says that landlords can access ‘up to £25,000 grant to bring the property up to rental standard’ and up to £5,000 to improve the property’s EPC rating.

It adds that leases span five to 20 years, with inspections, repairs and tenant management provided.

The council is offering ‘full management of the property and tenant’ for the lifetime of the lease.

There’s also extra cash available for landlords with one bedroomed properties

And a new team of experienced officers has been set up by the council to manage the process, it claims.

Landlords who are interested can register their interest online with Newport City Council.