A council is urging landlords to help people who are struggling to secure a home because of rising rents.
Powys County Council is promoting its Powys Bond Scheme, a package that replaces a traditional upfront deposit with a Paper Bond.
It covers damage and rent arrears to the same value as a standard deposit.
Also, tenants can build up their own savings over two years with Smart Money Cymru Community Bank.
The account is monitored, and the money is released to the landlord once the savings target is met.
Bond scheme for landlords
Cllr Matthew Dorrance, Deputy Leader and Cabinet Member for Housing, said: “The Powys Bond Scheme is a fantastic way for landlords to make a real difference in their communities.
“By joining the scheme, you’re helping someone avoid homelessness while ensuring you have the backing of our dedicated team every step of the way.
“Together, we can provide safe, secure homes and build stronger communities.”
The council’s scheme is aimed at people who are homeless or at immediate risk of homelessness.
Eligibility is based on affordability and personal circumstances.
Bond agreement signed
When a tenancy is agreed, the council works with both parties to sign a Bond Agreement that commits the tenant to regular savings until the deposit amount is reached.
Landlords receive a package of support, including inspections, inventories, help with tenancy agreements and ongoing advice.
If problems surface during the tenancy, the Bond team will intervene with guidance or funding options to prevent the arrangement breaking down.
Powys County Council says rent levels remain the landlord’s choice, although they should be realistic for the local market.
Local Housing Allowance rates also play a role, as these set the maximum level of housing support available through Universal Credit or housing benefit.
If the rent exceeds the LHA rate, tenants must cover the difference themselves.
While Universal Credit’s housing element is usually paid to the tenant, direct payments to landlords are possible in some circumstances.
That would be the case if the tenant had previously been homeless or may struggle to manage their finances.
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