Leasing your Property

Benefits to the Landlord:

• Long term leases of 3-5 years
• Guaranteed monthly income
• Intensive management of your property at no extra cost
• Incidental day to day repairs during the lease period
• Return of your property to you in good condition, less reasonable wear and tear

How does the scheme work?

The PSL scheme operates by leasing good quality properties from private landlords for a contracted period of between three and five years. These properties are then sublet to Housing Service clients until permanent housing is secured.

Landlords are offered a guaranteed rental income, although this may be below open market rent, this reduction is countered by the fact that the rent is guaranteed to the landlord, irrespective of any void periods or rent arrears.

The Association will be responsible for fully managing the property on the owners behalf including visiting your property on a regular basis to inspect its condition and ensure it is being looked after.

What type of property is suitable:

We are looking for unfurnished properties, close to the centre of town and good local amenities and the priority is for 2 & 3 bedroomed houses but we will consider flats.

The Association need to ensure that the properties we lease meet a certain criteria:

• Accommodation must be of a good standard of repair, decoration, cleanliness and have all the basic amenities
• Conform to all current safety standards relating to gas and electrical installations and appliances
• Provide carpets/floor coverings/curtains/cooker & fridge/freezer
• Mortgage approval or proof of ownership must be provided

Repairs:

As the owner you will retain responsibility for repairs to the property. In the event that a tenant has caused damage or the repair is a direct result of their actions, the Association will be responsible for the repair and recharge. The Association will also carry out the annual servicing of gas appliances and you will be invoiced accordingly.