Cherwell Council is introducing a new bond scheme for landlords which will ‘encourage’ them to raise availability and quality of affordable rented homes for private tenants.

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The council’s run scheme is available to any PRS landlord who wishes to apply for its Landlord Home Improvement Grant to carry out work that includes, energy efficiency upgrades, refitting bathrooms or kitchens and converting properties into shared housing.

However by signing up and receiving grants via the Cherwell Bond Scheme landlords will have to let out their properties at what the council deems as an affordable rent.

Councillor Nicholas Mawer, Portfolio Holder for Housing, says: “This is a great way of supporting people requiring decent accommodation and helping landlords invest in improving the quality of their properties.

“It is an excellent opportunity for landlords. Not only will they be eligible for an improvement grant, but they’ll also receive peace of mind as the council will provide support with finding tenants, organising viewings for their property and a deposit bond worth 10 weeks of rent.”