Mole Valley rent deposit assistance from bond scheme

A promissory letter, or bond, is available to individuals who are renting an private sector home in the Mole Valley. The scheme is used to help pay the rental deposit for a home or flat in the district. The assistance is only for properties in the private rented sector. Applicants need to apply for help from the Mole Valley District Council, as they assess all requests as well as interview the applicant.

The scheme is a form of homeless prevention as it can get families or individuals into a home. Then, once this has been done, the sustainment officer partners with the client to ensure future rent payments are made on time. So this approach can prevent future homelessness from occurring.

Who does the bond scheme help?

This is a form of financial aid that is for prospective tenants that have no cash or savings available to them. This is when the bond scheme may step in to help cover the deposit that is owed to the landlord. Note that the property owner needs to agree to the scheme, as the council will only be issuing the promissory note to the landlord. So this is not an exchange of cash that many property owners may be use too.

In addition, there is assistance to pay a deposit only if the family (or individual) has a source of income. This is required as the client needs to prove the ability to pay future rent costs on their own. This source of income can be from benefits, local housing allowance (LHA), or some other safety net programme.

Another criteria is that the tenant needs to have a job, or be actively looking. If the client does not have employment, then the Mole Valley Council may be able to assist with job placement too. The authorities have many resources available for this need.

The Mole Valley rent deposit scheme is a long term programme too. The client will need to agree to visits from the sustainment officer over the course of their tenancy agreement. Most of the visits will occur in the first year of the tenancy agreement, but the time frame can be extended as well at the discretion of the council.

This visit will allow the authorities to ensure the home is being cared for. They will also ensure that all of the rental payments have been made to the landlord on time, and that the tenant is not in arrears. If the client is facing barriers, the sustainment office can be a resource for them. Since the bond scheme is a homeless prevention service from the Mole Valley Council, this long term support is mandatory.

Property owners from the Mole Valley also need to agree to using the bond for the rent deposit. Many do agree to it for paying the rent deposit, but this is at their discretion. They are under no obligation to ensure into the bond scheme.

However many landlords do agree to it. The council will assess all applications, they offer free guidance on many financial challenges, address debts, and employment issues. All of these services from the Mole Valley Council Housing Department, (which are part of the bond scheme) will help minimize the risk to the landlord. So this is why they may agree to this promise.

Appointments can be made with the Mole Valley Housing Department from Monday to Friday. For more information on the rent bond scheme or to set up an interview, ring the department at 01306 870626/879213/870614.