Assistance for rent deposits from Lord Mayor’s scheme

Up to one month’s of expenses can be paid by the Deposit Guarantee Bond known as Lord Mayor’s. The Oxford City council scheme was created to help low income families move into private sector housing, and it can also assist the homeless in the district.

The landlords that participate in the scheme as well as eligible prospective tenants will be provided a bond guarantee. This form of assistance can be applied to the deposit that is due as part of the move in cost. Not only will the guarantee be used to help pay for the deposit expense, but it will also cover any future rent arrears that may be due if the tenant were to miss payments.

There are benefits to both parties. Landlords will be provided an individual or family that can rent their home, and that has been screened by the council. Tenants benefit as well, as the Lord Mayor’s scheme will help them access housing and maybe even get off the streets if they were homeless in the past. It also provides them more time to save money and also increase their income.

Applications process for deposit help

The Oxford City Housing Needs Team oversees the programme on behalf of the council. There are many steps to the process, and while there are no guarantees to receiving a bond, the agency will do their best to help people.

• All parties need to agree to the scheme, including the landlord, Oxford City Council, and the tenant.
• Landlords will be provided a guarantee in lieu of cash, so they need to agree to this form of payment.
• The tenant will need to save their income to take over the deposit payment after several months.
• An account will need to be open at the Oxfordshire Credit Union so the client can save their money for their future rental expenses.

The family will need to agree to cover any damage that occurs to the property, and they will need to pay Oxford City Council for it if it were to occur. The tenancy agreement will also need to state the any arrears are paid by the tenant. As the scheme does not take away the residents obligation to pay the rent on time and will not help them ensure no damage occurs. So the tenant is always responsible for any issues that occur, and the council will recover the funds from them in all cases.

Anyone that is threatened with homeless, and needs to resettle to a new home, is eligible if they meet income and other criteria. The Deposit Guarantee Bond is also for currently homeless people. All applicants need to be aged 18 and over and also can’t have their own savings that can be used for the deposit costs.

Advice in Oxford City

Preventing future homelessness is a key. Anyone that is awarded help from the Lord Mayor’s Scheme will also need to prove they can maintain the tenancy agreement over time. The team will need to be convinced of this before any help is provided to them.

No matter the situation, the housing team from the council will be there throughout the tenancy and the individual can call upon them at any time. The staff will provide information and guidance on how to budget and maximise income, or if the low income family needs help for applying for benefits, then the team can assist with completing forms. So maintaining a home is also part of the assistance from the Lord Mayor’s Deposit Guarantee Bond.

To apply, an application and assessment is required, and the Oxford City Council will ensure each person is treated fairly. The main office is at St Aldate’s Chambers, St Aldate’s, Oxford, OX1 1DS, and ring the customer support centre at 01865 249811.