King Street Housing Society rent deposit scheme

When it comes to paying the deposit on a new home or flat, King Street Housing Society partners with councils as well as landlords local to the area to assist with this housing expense that families are faced with. They provide a guarantee to people that are found to be eligible for help with their rent deposit, and this programme is run in partnership with councils.

Prospective tenants in Uttlesford as well as South or East Cambridgeshire can seek assistance from this scheme. In order for the council to provide help, the applicant will need a referral from either the landlord they are seeking to rent from, or the housing team at the local council office can refer people to King Street Housing.

In addition to this scheme, there are other services provided by the society, and they include advice on applying for housing benefits, tenancy issues, and ongoing support. The not-for profit partners with the councils on addressing homelessness and poverty in the districts, so they provide many services to try to make this happen.

The deposit guarantee will only cover the cost on a private sector accommodation for landlords that agree to participate. There will not be any funds for the rent in advance or any administration fee that may be due, and the prospective tenant will need to come up with the cash for that cost on their own. However, there may be other local schemes or even crisis loans that can help with that particular expense, and staff from the Society can provide more information on those options.

There are many eligibility criteria for this scheme, and it can benefit both landlords as well as people seeking an affordable home. The key terms are noted below.

• No tenancy agreement should be entered into before applying for the King Street Housing Society.
• The private home must be affordable, and the applicant needs to be able to sustain the rent on their own, even if they use their housing benefit.
• Inventory as well as Tenancy Deposit Certificates need to be given to the Society.
• Applicants can find housing to using the Cambridge Home-Link scheme.
• Inspections of the property will need to occur.

The guarantee will only cover up to six months of a tenancy in Essex or Cambridgshire. So the family or individual that participates in the scheme needs to save their money over that time frame as they may be responsible for the deposit after that time has elapsed. The landlord may decide after six months that they want some form of deposit from their tenant, and it is their right to do this.

Many landlords also are part of the rent deposit guarantee scheme. The programme benefits them as well. It allows them to let out homes that may otherwise be vacant and bring in an income, and the guarantee will protect them in this process. It will cover any damage, theft or rent arrears, so it encourages the landlord to let to families or even the homeless in the region.

King Street Housing Society will also provide other support services to the tenant, which will help ensure they sustain their agreement. This includes budgeting advice and more. The landlord can also always call upon the Society, or a council such as the one in Uttlesford if the tenant were to fall into rent arrears. So there are many benefits to the landlord participating in this scheme, and the tenant’s also gain ongoing support.

Staff will provide more information to both prospective tenants as well as landlords that want to register for the scheme. The post of King Street Housing Society is 89 King Street, Cambridge, CB1 1LD. Or people can call them at 01223 312294.