The Welsh Government is urging landlords and owners of empty homes to consider its Leasing Scheme Wales.
The schemes offer landlords the opportunity to lease their properties to the local authority for between five and 20 years. It provides a guaranteed monthly rental income and a full property management service from the local authority, without the need to pay commission.
This means that owners signed up to the scheme will not incur arrears or rental voids and will be guaranteed rental income at the relevant local housing allowance rate.
Additionally, properties may also be eligible for grant funding of up to £25,000 renovations and up to £5,000 for energy efficiency improvements.
Tenants also benefit from the scheme with guaranteed support for the lifetime of their lease.
Cabinet Secretary for Housing and Local Government, Jayne Bryant, said:
“We know that empty homes are a wasted resource in our communities and this scheme is a fantastic way of making homes more accessible and affordable.
“I look forward to seeing how property owners and landlords can be supported through the scheme to deliver safe, long term and affordable homes for tenants.”
