Powys Landlords Encouraged to Join Initiative Combating Homelessness
The Powys Bond Scheme, overseen by Powys County Council, is actively seeking landlords to participate in a unique initiative aimed at reducing homelessness. This program provides a practical alternative to traditional cash deposits for rental agreements.
How the Powys Bond Scheme Works
Under the scheme, landlords receive a Paper Bond. This bond serves as a guarantee for damage and rent arrears, offering protection to landlords while supporting tenants. In essence, it minimizes the financial risk for landlords associated with renting properties.
Benefits for Tenants
Tenants enrolled in the Powys Bond Scheme have the opportunity to save for their own deposits. They can contribute over a two-year period into a Credit Union account. The initiative not only helps them build savings but also fosters a sense of financial responsibility.
Invitation to Landlords
- Participate in a solution-oriented program.
- Reduce the risk of financial losses.
- Support local efforts to combat homelessness.
This initiative reflects a collaborative approach to addressing housing challenges in Powys. By encouraging landlords to join, Powys County Council aims to create a more stable rental market and assist vulnerable tenants in achieving home security.
