Making it easier for People on Low Incomes to get a Foot in the Door of the Private Rented Sector

With research released in the news this week revealing that unlike the rest of the country, it is now cheaper to rent a property in Wales than buy one, one charity is making it easier for those on low incomes to access comfortable, safe, private rented homes.

Renting may be cheaper in the long run, but private landlords often demand a large deposit or 'bond' before you can move into their accommodation. If you are living on a low income, it can be almost impossible to raise enough to find somewhere to live.

The Wallich is a homelessness charity with 30 years experience of supporting vulnerably housed and homeless people, with over 30 projects in 12 Local Authorities across Wales. Their Bond Boards help people who are confident that they can maintain a tenancy, but who are having trouble raising the money to get a foot in the door.

The Wallich Bond Boards issue a Bond Certificate to cover the cost of a deposit, which means that a prospective tenant doesn't need a large lump sum of cash upfront.

Chief Executive of The Wallich, Stephen Gamgee says;

“Due to the decline in the availability of Social Housing, it has become vitally important to make the best use of the Private Rented Sector. Our Bond Boards provide invaluable help to people who wish to be re-housed.”

The bond is given in the form of a Security Bond Certificate. This is a written guarantee, by The Wallich Bond Board to the landlord, that if at the end of the tenancy there are rent arrears or damage, The Wallich Bond Board will reimburse the landlord up to the value of the agreed bond.

A landlord is more likely to accept someone as a tenant if they know that a third party, like The Wallich, will guarantee the bond if anything goes wrong. The charity also offers continued support to tenants after they have moved into the property, advice on rental payments and on Housing Benefit applications, if eligible. They work with tenants to understand tenancy responsibilities and can act as a mediator if any problems arise.

The charity has run successful Bond Boards in Swansea and Bridgend for a number of years, and enjoys positive relationships with many private landlords in the area. After a successful bid for funding, in partnership with Blaenau Gwent County Council and Merthyr Tydfil County Council, they have now opened new branches in these two counties and are looking forward to the scheme’s expansion and continued success.

Trish Law, Independent Assembly Member for Blaenau Gwent, welcomed the extension of Wallich Bond Board initiative into the valleys. She said:

"Housing and homelessness are the most common problems people bring to my surgeries. Many low-income families just cannot afford to put down a deposit or bond to secure private rented housing.

The Wallich has made a significant contribution to overcoming these problems in Swansea and Bridgend, and I'm delighted the charity is now reaching out to deprive valleys communities like Blaenau Gwent and Merthyr."

For more information about the scheme, either as a tenant, or a landlord, please contact The Wallich on 01495 313013