The Government has allocated funding for local authorities and approved housing bodies to lease or rent residential properties from private owners. These properties will be used to provide accommodation to people who are currently unable to source suitable properties from their own resources.
There are two options for property owners who are considering making their properties available to a local authority or approved housing body or AHB:
- Long-term LeaseArrangements (10–20 years)
- Availability Arrangements (typically 1–10 years)
Long-term Lease Arrangements
This arrangement will suit property owners and landlords who want to retain property as a long-term investment and have a long-term security of income, but who do not wish to retain responsibility for the day-to-day requirements of managing a residential property.
This arrangement may only be entered into with a local authority. It will suit property owners who want to retain landlord responsibilities or want to enter into shorter-term arrangements.