Welsh landlords offered ‘hassle-free’ income with government scheme
12:03 AM, 8th October 2024, 2 years ago
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The Welsh Government is promoting its ‘Leasing Scheme Wales’ which offers landlords and owners of empty homes the chance to lease their properties to a local council for a guaranteed rental income.
The scheme provides a ‘hassle-free’ solution for property owners looking to generate income without the usual stresses of managing tenants, the government claims.
Under the scheme, landlords can lease their properties for between five and 20 years, receiving a guaranteed monthly rental income at the relevant local housing allowance rate.
The council will also provide a full property management service.
The government says the scheme means that landlords will not have to worry about rental arrears, voids or paying agent commission.
‘Making homes more accessible and affordable’
Jayne Bryant, the cabinet secretary for housing and local government, said: “We know that empty homes are a wasted resource in our communities and this scheme is a fantastic way of making homes more accessible and affordable.
“I look forward to seeing how property owners and landlords can be supported through the scheme to deliver safe, long term and affordable homes for tenants.”
In addition to guaranteed income, property owners may also be eligible for grant funding of up to £25,000 for renovations and up to £5,000 for energy efficiency improvements.
Tenants also benefit from the scheme, as they are guaranteed support for the lifetime of their tenancy and offers peace of mind.
It will also, the government says, help ensure that the property is well-maintained.
Tags:
affordable housing, Cabinet Secretary for Housing and Local Government, empty homes, Energy efficiency improvements, grant funding, guaranteed rental income, housing allowance, Jayne Bryant, Leasing Scheme Wales, Property management, welsh government
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Member Since December 2023 - Comments: 1573
8:42 AM, 8th October 2024, About 2 years ago
Government introduces stress and then offers to take the stress away. How very kind.
Sounds like a protection racket.
Member Since March 2019 - Comments: 7
10:15 AM, 8th October 2024, About 2 years ago
Is this the Welsh version of Rent-to-Rent (R2R)?
Member Since September 2018 - Comments: 3504 - Articles: 5
10:54 AM, 8th October 2024, About 2 years ago
It will also, the government says, help ensure that the property is well-maintained.
hahahahah! They can’t look after their own rented stock properly as it is!
“We know that empty homes are a wasted resource in our communities and this scheme is a fantastic way of making homes more accessible and affordable.” “I look forward to seeing how property owners and landlords can be supported through the scheme to deliver safe, long term and affordable homes for tenants.”
What do they think the PRS does already? Be default we deliver safe long term homes for tenants. We do so at market rate because it is the PRIVATE sector.
If a council wants to provide what they deem ‘affordable’ homes, they be our guest and build them/supply them yourself.
Member Since August 2016 - Comments: 1190
12:13 PM, 8th October 2024, About 2 years ago
And your tenants will be single fighting age males that the RNLI have taxied across the channel.
Member Since June 2019 - Comments: 761
12:40 PM, 8th October 2024, About 2 years ago
Help ensure with maintenance? Sounds like force landlords to do it with threats of fines.
Member Since February 2018 - Comments: 627
1:34 PM, 8th October 2024, About 2 years ago
‘The government says the scheme means that landlords will not have to worry about rental arrears, voids or paying agent commission.’
Given the ‘see through’ of landlord responsibility of R2R, how is this even legal, mire concerningly, is thus an attempt to get control of sub EPC C properties and then either get an exemption or force costs onto the landlord,?
Member Since January 2016 - Comments: 235
3:20 PM, 8th October 2024, About 2 years ago
Any landlords considering this should take 10 mins to read this first:
https://www.property118.com/serco-contract-was-a-train-wreck/
Member Since December 2023 - Comments: 1573
3:34 PM, 8th October 2024, About 2 years ago
I won’t be taking in any new tenants. As tenants leave, I’ll sell up. This will continue until the playing field is levelled.
If ever I was to take on new tenants, it tenants that I choose that have well-respected and long term local families.
But I’d still probably just sell up. More foreign holidays beckon.
Member Since March 2023 - Comments: 1506
8:29 PM, 8th October 2024, About 1 year ago
There is no such thing as hassle free. Its like kicking the can down the road, you just forestall the hassle