Powys County Council’s Powys Bond Scheme allows those at risk of homelessness to secure a property.
The scheme provides a paper bond, which covers potential damages and rent arrears, in place of a traditional cash deposit.
Tenants then save up for their own deposit over a two-year period in a Credit Union account, overseen by the council’s bond team.
Councillor Matthew Dorrance, the 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 scheme offers landlords a range of benefits.
These include comprehensive property inspections, inventories, tenancy agreements, and ongoing advice.
Landlords must meet property standards and be registered with Rent Smart Wales.
The bond team will provide support and funding options to address any challenges that may arise during the tenancy, thereby preventing potential failures.
To learn more about the Powys Bond Scheme, visit the council’s website.
