Rent deposit bond scheme

Landlords of privately rented accommodation often ask for a deposit before they agree to offer a tenancy. The deposit covers the cost of any damage done to the property or any build up of rent arrears whilst the tenant is living there and will be a maximum of one months’ rent.

The Rent Deposit Bond Scheme has been designed to help people to be able to afford to access the private rented sector.

For people who are eligible, we guarantee to pay against the bond should a genuine claim be made by the landlord.

Criteria

Who is eligible?

The prospective tenant must be homeless or threatened with homelessness.

All applicants must:

  • Have a local connection to Wyre Forest
  • Be in housing need or at threat of homelessness
  • Agree to repay any bond paid out to the landlord by us
  • Agree to undertake a financial statement to verify that privately renting is an affordable and reasonable option for them

Who is not eligible?

Prospective tenants will not be eligible if they have:

  • Rent arrears on previous tenancies with no payment plan
  • Been served with an Anti Social Behaviour Order
  • Other reasons that may jeopardise access to a tenancy

Prospective tenants must not commit themselves to a tenancy until an inspection has been made and all Rent Bond Scheme paper work has been received and completed, otherwise they will be ineligible for the scheme.

The bond details

How long is the deposit bond for?

For a maximum of 5 years

What does the deposit bond cover?

The Rent Deposit Bond will cover a maximum of one months’ rent. This applies for rent arrears and loss or damage to the property or to items on the inventory list which are caused by the tenant but are not covered by household insurance.

What will not be covered by the deposit bond?

  • Normal cleaning costs - tenants should ensure that the property is left in an acceptable condition
  • Damage to communal areas (where shared)
  • Criminal damage
  • Items covered by normal household contents insurance

What do landlords need to do to use the Rent Deposit Bond Scheme?

To use the scheme, landlords are expected to meet the following criteria.

They must:

  • Provide a legally binding, written tenancy agreement
  • Provide the tenant with a rent book or receipts
  • Ensure the accommodation is suitable for the size of the household
  • Ensure the property is in good repair and condition
  • Maintain the structure and exterior of the property
  • Not have any convictions for illegal evictions or harassment
  • Supply a current energy performance certificate
  • Supply a current gas certificate

Finding the property

Once the tenant has found a suitable property, he or she can contact the landlord direct or contact the Housing Officer who will talk to the landlord on the tenant’s behalf providing details of the scheme.

Prospective tenants must not commit themselves to a tenancy until an inspection has been made and all Rent Bond Scheme paper work has been received and completed, otherwise they will be ineligible for the scheme.

Ending the tenancy

At the end of the tenancy, the landlord, the tenant and the Homeless Project Officer should inspect the property.

If a claim is made against the Rent Deposit Bond, this will be recharged to the tenant.

Can I use the scheme more than once?

Yes, tenants can use the scheme again.

However, they will not be considered if they have breached a condition of their tenancy or caused damage to a rented property.

Contact us

Housing advice team

01562 732928

Out of hours- 01562 850053

housingadviceteam@wyreforestdc.gov.uk

 

 

Useful links

National support services

Shelter 
National charity that provides specific advice on housing and homelessness.
0808 800 444

Citizens Advice Bureau
Independent organisation offering free advice and assistance in many areas.