ACTING as a bridge between landlords and tenants could help Newport City Council find homes for more people, the local authority hopes.
Newport has joined the Welsh Government’s Leasing Scheme, designed to address a shortage of affordable homes.
The scheme offers property owners various incentives to sign long-term leases with the council, who will then take over the management of those homes and rental arrangements for that period of time.
The city council has set up a new team of officers to manage the process in Newport, and is seeking interested landlords.
Cllr Saeed Adan, the cabinet member for housing, said the scheme “takes the ‘hassle’ out of letting properties”.
“We hope this will encourage owners to continue as landlords and help provide much-needed homes for our residents,” he added.
Benefits for landlords who sign up to the scheme include a guaranteed rental income for the length of a lease – ranging from five to 20 years – meaning there is no risk of rent arrears or voids.
The council will also offer a grant of up to £25,000 to bring a property up to rental standard, and up to £5,000 to increase its energy rating.
The local authority will cover the full management of the property and its tenant for the duration of the lease, and will also be responsible for property inspections, repairs and reasonable wear-and-tear maintenance.
Additional incentive funding is available for one-bedroom properties, the council said.
“We are committed to helping as many people as possible find sustainable, long-term homes and this scheme can contribute to that aim,” said Cllr Adan.
“Like many places in the UK, Newport has experienced an unprecedented housing crisis, with more people facing homelessness 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.”
If you own a property and are interested in the leasing scheme, visit https://www.newport.gov.uk/housing/renting-and-home-ownership/landlords/leasing-schemes and register an expression of interest.
