Somerset West Letting Agency

Building harmony between landlords and their tenants

Our Bond Guarantee Scheme

A service to assist single people or couples with without dependants in securing private accommodation. 


Are you eligible for our Bond Scheme?
 

  • Are you trying to rent in the private sector?
  • A single person or a couple without dependants
  • Over 18
  • Homeless, threatened with homelessness or poorly housed
  • On a low income and with little or no savings
  • Capable of living independently


Do you have a local connection to the area?

  • Have you been a resident in the area for six out of the last twelve months?
  • Have you been a resident in the area for three out of past three years?
  •  Do you have family in the area that have been a continuous resident for the past five years? - Family members include mother, father, brothers or sisters.
  • Are you employed in the local area?

The Bond Scheme enables people on a low income or benefits, who cannot afford a deposit, to access the private rented sector. Most private landlords require a cash deposit before they will agree to let their property to you. However, they may be happy to accept a Bond instead of cash because the scheme offers landlords guarantees and other incentives to accept people who are homeless or poorly housed.


How long is the Bond for?

The Bond will run in line with a standard six months’ Assured Shorthold Tenancy. It will be reviewed after this period. It may be extended to 12 months if you show that you have saved at least half of the cash deposit to put towards the total 

deposit which will ultimately replace the Bond.


What is the process?

  • You will have a short telephone interview with us in order for us to establish your      eligibility and needs.
  • If you meet the criteria, we will advise you to start looking for somewhere to live.
  • You will need to find your own accommodation on the condition that the landlord will accept the Bond.  Please be aware that the bond is a paper bond and cannot be provided as cash.
  • Once you have found a property, we ask you to come back to us with the full name of the landlord, the full address of the property and how much the rent is. 
  • We will then liaise with the landlord to finialise the tenancy. 

 

Before you consider any rentable property it has to be inspected by us for its suitability and to ensure the proposed rent level is acceptable. Therefore, DO NOT move into the property before it has been inspected.


What happens next?
  • Once a moving in date is agreed, a meeting will take place between your landlord, the Lettings Team and you.
  • A full inventory will be taken of the property before you move in. This will only be     used should a claim be made against the Bond
  • An Assured Shorthold tenancy agreement will be signed by both the landlord and     you.
  • Part of our service is to provide you with advice and guidance in preparation for the tenancy and throughout the tenancy.