Letting Out is an exciting Housing management scheme developed by The Bond Board to help young people access properties and also meet an ever increasing housing need. National changes to Housing Benefit has meant under 35 year olds on low incomes or on welfare benefit now find themselves priced out of private rented housing, meaning they have to join housing waiting lists or stay with friends or family with traditional bond deposits not a suitable option for many young people due to rent restrictions. Tenants, find out more about sharing with Letting Out here
The development of Letting Out offers a full housing management service to landlords, whilst also allowing more people to access the private rented sector and find good quality, affordable accommodation, in exchange for a monthly management fee. Landlords, find out more about Letting Out here
The Letting Out model manages properties directly from owners and then lets to sharers, i.e. two people who wish to live together, on a joint tenancy, with the property fully managed by the scheme. This means that the property is more affordable than if taken on independently with rents for tenants around £50-£55 per week this means those who find work will also be paying a cheaper rent than on their own. Utility costs, food bills and household running costs are all halved between the sharers, making it a realistic affordable housing solution for many young people.
All properties are inspected in line with local Landlord Accreditation Scheme standards with a skilled team ready to help, for both tenants and landlords alike.
To date over 150 young people have been supported into managed properties that otherwise would have had few other housing choices. Letting Out means The Bond Board can continue to help young people access private rented housing and also helps owners who do not wish to manage a property directly.
Letting Out tenants can access the full range of support services offered by the Bond Board, including 1-1 support to manage the tenancy, specialist welfare rights advice and group work covering areas such as budgeting, health and well being and benefits.
Letting Out also has its own support service, run by our Young Person’s progression Coach. This involves working intensively on a 1-1 basis with young adults with multiple needs who have previously received little support and who are out of work and reliant on benefits. This service focuses on education, employment,training and housing and has included taking clients to job fairs, training assessments and work placements, plus regular workshops around healthy living, employability and housing.