Preston Bond Scheme
Preston Bond Scheme (PBS) will provide a deposit in the form of a bond for a tenant seeking private rented accommodation who cannot afford the deposit. This is a guarantee certificate to cover the first six months of a tenancy.
We do not give the landlord cash. The maximum allowable would normally be equivalent to four weeks rent.
As we do not make cash payments there is no requirement for the landlord to register the deposit with a protection scheme.
For all bond scheme tenancies, we make a record of the condition of the property and take an inventory if necessary at the start of the tenancy. The record will be referred to in the event of a claim being made against the bond at the end of the six month bond period.
All the property used must be in a fit state and meet a suitable standard of decoration and furnishings if applicable. Any landlord or agency whose property is accepted by Preston Bond Scheme will be checked to ensure that they do not have any record of harassment or unlawful eviction with Housing Advice. The landlord must also be, or in the process of becoming, a member of The Preston Accredited Lettings Scheme (PALs).
Advice and assistance on landlord tenant matters, Local Housing Allowance, mediation and support will be provided to both tenant and landlord for the duration of the tenancy.
Some of the funding available to this project is primarily aimed at young single people (18 to 25 years of age), however older single people, couples and in some circumstances families will be eligible for the scheme.
Priority will be given to prospective tenants who can show that being accepted by the Preston Bond Scheme will prevent them from becoming homeless.
All prospective tenants will be required to provide references and an accommodation history. They must be able to demonstrate a suitable level of responsibility and ability to conduct their tenancy in a reasonable manner.
Accessing the private rented accommodation can be by two methods:
- If the prospective tenant has found their own accommodation but cannot afford the deposit and the landlord is willing to accept a tenant on the bond scheme Preston Bond Scheme will assess the tenant. The landlord, if not already a Preston Accredited Landlord or a member of Preston Landlords' Forum will be referred to the housing standards section who will check to ensure that there has been no history of complaints made to them regarding the landlord and/or their agent
- Housing Advisory Services will hold a register of accredited landlords who have agreed to accept tenants on the bond scheme. They will refer an approved prospective tenant to a landlord if they are aware of a suitable vacancy
Help for landlord and tenant
Tenants referred under the bond scheme would usually be in receipt of benefits; however they would be interviewed, assessed and approved by a housing advisory officer at Preston City Council before being accepted on the bond scheme.
Also any landlord with a tenant on the bond scheme would have a named contact at Housing Advisory Services able to offer free advice on tenancy issues such as ending the tenancy, Local Housing Allowance and how to access support and mediation if necessary.