Bond Guarantee Scheme
The Bond Guarantee Scheme has been developed by Bassetlaw District Council’s Housing Needs Team and is used as a homeless prevention tool to help those in housing need access private rented accommodation.
As local authority housing stock diminishes and demand continues to rise, the Council recognises that people are relying on private rented accommodation to resolve their housing problems but are not able to afford the large sums of money required for bond and rent in advance payments to secure a tenancy.
Therefore providing a Bond Guarantee Scheme allows easier access to the private rented sector and offers more people more options and choices, creates settled communities and reduces the risk of homelessness.
Who is Eligible?
Anyone assessed to be statutorily homeless or threatened with homelessness by the Council will be eligible and automatically receive consideration.
How does the Scheme work?
All applicants accepted onto the Bond Guarantee Scheme will be assisted to identify any potentially suitable properties taking into account the needs of the household and affordability.
When a property has been identified and approved by the Housing Needs Team, they will:
- Inspect the property to ensure it is in a good state of repair, cleanliness and decoration and meets all health and safety standards.
- Complete inventory and obtain photographs.
- Negotiate and agree the terms of the tenancy with landlord.
- Explain what the bond guarantee covers.
- Outline Claims procedure.
- Issue a Bond Certificate to the Landlord guaranteeing that they will be reimbursed for the cost of any willful neglect or damage to the property during the first 12 months of the tenancy to an amount not exceeding one month's gross rent for the property.
How long does the process take?
The length of time required to set up a tenancy will vary however all property inspections will be undertaken and negotiations completed as quickly as possible.
Factors which may delay the application could include Landlord having to carry out minor remedial works to bring the property up to standard or delays in the availability of all parties concerned.
If a Landlord allows an applicant to move into a property or issues a Tenancy Agreement before the Council has approved the tenancy in writing, the Council reserves the right to withdraw from the process.
Last Updated on Wednesday, May 8, 2024