News

Scheme to guarantee private landlords rent for three years

A new scheme which will guarantee landlords rent for three years has been launched as part of an initiative to tackle the shortage of affordable housing in Birmingham and the Black Country.

Birmingham Co-operative Housing Services (bchs) is looking for a range of good quality and privately owned properties in Sandwell, Birmingham, Walsall and Wolverhampton.

In return, private landlords will be guaranteed rent for up to three years, help with repairs to the property and new tenants if the home becomes vacant.

It is hoped the Private Sector Leasing scheme will create scores of homes for those struggling to find affordable accommodation in the Midlands.

Carl Taylor, Director of Birmingham Co-operative Housing Services, said: “This unique scheme takes the strain out of managing a property and in turn gives landlords a guaranteed rental income every month.

“We’re looking for all sorts of properties, from terraced homes to town houses, to meet the ever growing need for more affordable homes in the region.”

Mike Farrell, a landlord from Solihull, who owns eight apartments in Wolverhampton, is just one landlord who has already signed up to the scheme. He originally built the apartments to sell but because of the current financial climate decided to rent them instead.

Mike said: “This scheme makes renting simpler and gives me much more peace of mind as I only have to deal with one point of contact.

“I don’t have to worry about the properties becoming void or undertaking credit checks and I would heartily recommend it to other landlords.

“And it is not only good for me financially in the long run, but it is also nice to be helping to create good-quality and affordable homes for the local community.”

Landlords that are interested in finding out more about the Private Sector Leasing scheme, can call the Home Services Team on 0121 764 3808 from 9am to 5pm or 0778 619 0982.

Birmingham Co-operative Housing Services, based in Tyseley, Birmingham, is part of the Accord Group of housing associations which provides 11,000 homes and a range of services to 40,000 people across the Midlands.