Information for landlords
Cherwell Bond Scheme: information for landlords
The Cherwell Bond Scheme helps local people in need of housing to access good quality and affordable privately rented accommodation.
How CBS works
In return for landlords making their properties available for us to let at affordable rates to people in need, we provide a bond to the value of 10 weeks’ rent in place of a cash deposit. We also offer grants for property improvements, a free tenant finding service and various other benefits.
The bond works just like a normal cash deposit, except it's 10 week's rent instead of a maximum of 5, and it doesn't need to be protected. The bond lasts for the duration of the tenancy, so you can claim from the bond for arrears and damage found at the end of the tenancy.
The benefits
- You will not be charged any fees for letting your property through the Cherwell Bond Scheme
- We offer you double the amount of deposit you can normally expect to receive, with a deposit bond guarantee equivalent to the value of 10 weeks’ rent
- You are eligible for Landlord Home Improvement Grants of up to £15,000 towards property improvements
- We will pay you £1,000 as a one-off bonus for the first 12-month tenancy agreement signed at each property let through the CBS
- If hard-wired smoke detectors are needed, we will pay for the installation
- We will find tenants for your property, help arrange viewings and help the tenant sign-up for the property
- We can direct you to the government approved model tenancy agreement, if needed.
- We provide tenants with a minimum of 3 months support from a tenancy support officer
- We contact the tenant during the first 12 months of the tenancy to discuss any issues
- Regular landlord newsletter to help keep you up to date on landlord topics
- Invite you to our landlords’ forum
Landlords' Home Improvement Grants
You can apply for grants of up to £15,000.
The tenants
Tenants seeking help through the Cherwell Bond Scheme will usually have a limited income and are likely to be at risk of homelessness. We aim to provide tenants with a long-term solution to their housing need and several tenants assisted through the scheme have had their tenancies ongoing for over 10 years. To make this possible, we require the rent you charge to be affordable. This means that the rent cannot exceed the Local Housing Allowance (LHA) rate as this is the maximum amount of housing benefit a tenant can expect to receive.
How to join
Email bondscheme@cherwell-dc.gov.uk and provide the details of the property you want to let through the scheme. We will arrange to inspect the property to determine if it’s suitable and if any works are required before letting. We’re likely to be able to help with the cost of any works that are required.