Help with rent in advance and deposits in Rugby from council bond scheme

Individuals seeking to enter into a tenancy agreement can find help for paying a deposit that may be due from the private sector landlord. The Rugby Borough Council provides a couple different bond schemes for individuals on a low income or the currently homeless, and there may be help to pay a rent in advance that is due or the security deposit.

While each landlord will have their own fees and expenses that need to be paid, in the Rugby borough as well as the greater Warwickshire area, the amount for the deposit is usually equal to one month’s rent, and this is required before a tenancy agreement will be put into place. In addition to that, many also require up to one months’ worth of rental costs to be paid in advance as well.

With the weak economy and reduction in benefits that many individuals face, people can’t afford those costs. It is also very difficult for someone that is homeless and trying to gain independence to pay, so this is when the Rugby Borough Council bond assistance scheme can help.

So the council may be able to help in some cases. This is a programme that replaced some of the other solutions that were provided in the past, and the council will assist applicants with their deposit costs on private sector accommodations. The aid is for people with a local connection that are over the age of 18, that are on a low income, and are homelessness. Or the scheme can help residents threatened with homelessness. There is also council support for any rent in advance payments that the landlord may be requiring.

In all cases the landlord needs to agree to the scheme as well, however the council will partner with them on this process. If the prospective tenant is approved, and the landlord agrees, then the council will guarantee the deposit for the tenant. This will cover any future rent arrears that may be due, as well as damage to the property.

The scheme is only for people in the borough, and the aim is to help with paying the deposit on a new home. For the landlord, it benefits them as the bond guarantee will help lower their risks in letting to a formerly homeless person as any damage will be covered by the council, and the scheme will also pay any arrears that is due at the end of the tenancy.

Renters in the borough can also benefit as well if they receive a reward. The scheme can help place them into a new home, and the Housing Options Team will also provide them with free advice to help them maintain their tenancy. The Rugby Borough Council provides this service as they want to reduce homelessness in the community, so both up front and ongoing support is provided.

All funds and assistance is at the discretion of the council, and there are no guarantees to receiving help. To apply or get more information on the bond assistance scheme, the Rugby Borough Council Housing Options Team can provide advice. The address is Town Hall, Evreux Way, Rugby CV21 2RR.