Leasing Scheme Wales (LSW) is a leasing scheme funded by Welsh Government and managed by local authorities. The scheme provides landlords with the opportunity to lease their property to the local authority for a guaranteed monthly rental income and full property management service for between 5 and 20 years.
Benefits to property owners who lease their property to the local authority
- Leases of between 5-20 years.
- Guaranteed rent every month for the length of the lease.
- Where necessary, an offer of up to £5000, as a grant, to bring properties up to the required safety standards and/or to increase the EPC rating to level C.
Additional grant funding of up to £25,000 is available for long term empty properties.
- Property inspections, repairs and maintenance throughout the term of the lease.
- The property returned in the same state as it was let, subject to reasonable wear and tear, and the landlord’s liability for structural defects.
- Full management of the property for the term of the lease.
- Support given to the tenant throughout the tenancy. There will be no need for the landlord to have any contact with the tenant throughout the lease.
What you can expect from us
- We will undertake the day-to day management of your property.
- We will meet rent payments during any period of inoccupation.
- We will regularly inspect properties, monitor tenant activity, and promptly deal with any issues, should they arise.
- We will maintain your property throughout the term of lease.
- We will complete an inventory and at the end of the lease period – subject to any wear and tear – the property will be returned in the same condition.
- We will be responsible for any bills/utilities if the property becomes unoccupied.
The rent is guaranteed to be paid to you for 12 months of the year, regardless of whether your property is occupied or not. The amount of rent you will receive will be set at the Local Housing Allowance for your property size. In some circumstances this may be less than the market value, however there are no fees payable therefore the amounts stated below are the amounts you will receive.
The rates we can offer for properties on the Scheme is as follows:
- 1 bed = £346.66 per calendar month
- 2 bed = £493.65 per calendar month
- 3 bed = £573.43 per calendar month
- 4 bed = £723.01 per calendar month
For further information, please contact:
Conwy Housing Solutions
Telephone: 01492 576274 / 01492 574235