Landlords in MK can now have their rent 100% guaranteed and receive up to £2,670 as a cash incentive for offering longer tenancies to families in need.
MK Council first launched its cash incentive scheme for landlords last year, offering the incentive to landlords able to offer a tenancy for up to 2 years and a minimum of at least six months, to support families made homeless by the private rented sector. The council has now added a rent guarantee that will last for the duration of the tenancy.
The rent guarantee gives landlords an added layer of reassurance so they don’t need to worry that a tenant might fall into arrears and leave them out of pocket.
As well as guaranteed rent and a cash incentive, the scheme also offers landlords:
- Help from the council to find tenants
- The opportunity to receive benefit payments directly
- Free inspections to ensure a property meets Housing Health and Safety Rating System (HHSRS) standards. If the property fails, landlords will be supported in bringing it up to the required standard
The cash incentive is paid in addition to any rent in advance or deposit requested.
Milton Keynes Council has also launched a brand new accreditation scheme for landlords to help them improve standards and deliver better homes for tenants. Landlords signing up to scheme will receive 12 months free membership of the National Residential Landlord Association (NRLA).
To find out more and register, as well as the full breakdown of financial incentives on offer, please visit: https://www.milton-keynes.gov.uk/housing/supply-and-acquisitions