A Labour led council has become part of an initiative aimed at motivating private landlords to lease their properties as a solution to local homelessness.

Newport has signed up to the Welsh Government’s Leasing Scheme, which provides landlords with various incentives to enter long-term leasing agreements with local authorities.

Under this scheme, the council assumes responsibility for managing the homes and rental agreements for the lease duration, with a promise to return the properties in their original condition at the end of the lease period.

The Leasing Scheme Wales offers a chance for landlords and owners of vacant properties to lease their homes for a period ranging from five to 20 years.

This program guarantees property owners a consistent monthly rental income and provides comprehensive property management services from the local authority, all without any commission fees.

The scheme promises landlords they will not face any rental arrears or vacancies throughout the duration of the agreement, and they will receive a guaranteed rental income at the applicable local Housing Allowance rate.

The scheme includes coverage for repairs of any tenant-caused damage to the property. Properties in need of improvement may qualify for grants of up to £5,000, while vacant properties may be eligible for grants of up to £25,000.

According to Leasing Scheme Wales, landlords can save up to £10,000 over a five-year lease term. This is because they are not required to cover the costs of tenant placement, management fees, gas safety checks, or EICR during the lease period, nor do they need rent guarantee insurance. Additionally, there's no need for a contingency fund for emergency repairs, as the council handles them.