Spelthorne Borough Council has launched a unique new rent guarantee scheme for private landlords in and around the Borough called ‘Spelthorne Rent Assure’.
The scheme allows landlords to rent their properties through Spelthorne Council to people in genuine need of a place to live. Rents are guaranteed and will be paid monthly in advance by the Council, for up to two years. Payments will be made directly to landlords at full local market rent.
This couldn’t come at a better time for local landlords, with the Autumn Statement announcement that lettings agency fees are set to be banned.
The scheme is designed to take away risks around the uncertainty of regular rental payments as well as features such as free tenancy agreements, an independent property inventory and a six week repair bond which will make working with the Council as attractive and straightforward as possible for prospective landlords.
All tenants accepted on the scheme will have undertaken training, and support will be provided to both landlords and tenants for the duration of the tenancy. The landlord will have the final choice of tenants.
Homes in the Spelthorne area with two bedrooms are currently most in demand
The scheme is perfect for landlords because renting properties with the Council gives them a reliable source of income to offset any risk of ventures into the private rented sector. It also means that the Council takes responsibility for finding and supporting tenants.
Cllr Jean Pinkerton, Cabinet Member for Housing and Transformation, said: “The scheme is a great deal for landlords across the Borough. I would urge them to get in touch and find out how they can reap the benefits of hassle-free letting”.