A council has launched a pilot scheme involving private landlords willing to lease their properties to the authority for five years.
Cardiff council’s scheme is funded by Welsh Government and will be managed by the council itself, and claims to offer “a significant range of support services and benefits to private landlords.”
These include financial assistance to improve a property, a guaranteed rental income even if the property is empty, responsibility for repairs and maintenance throughout the lease period, and tenancy management activity undertaken by the council.
Financial assistance is available for landlords interested in the scheme, but whose properties are in need of renovation to meet Welsh Government standards for leasing.
A non-repayable grant of up to £2,000, plus an interest free loan of up to £8,000 repayable over four years, are on offer for necessary improvements.
Cardiff council spokeswoman Councillor Lynda Thorne, says: “The lack of enough good quality, affordable housing in the city is well-known and while we are building new council homes at pace across the city to help tackle this high demand, the private rented sector remains an important source of Cardiff’s affordable housing market.
“We’re encouraging landlords with homes to rent in Cardiff to lease unfurnished properties to us for five years to provide homes for people in need of good quality, affordable accommodation.
“We’re looking for a range of different property types and sizes, particularly larger family homes, in all parts of the city.
“The council will undertake the day-to-day management of the property, there’s a guaranteed income of 90 per cent of the Local Housing Allowance rate paid direct to the landlord whether the property is occupied or not, regular inspections and full housing support to the resident to ensure the tenancy is a success for both parties.”
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