Landlords: tenancy guarantee
The scheme
The Tenancy Guarantee scheme is managed by King Street Housing Society in partnership with South Cambridgeshire District (SCDC), East Cambridgeshire (ECDC) and Uttlesford District (UDC) councils. The Scheme helps people who need accommodation find homes in the private rented sector. It does this by offering tenancy guarantees to landlords on behalf of prospective tenants who cannot afford payments in advance themselves.
The Scheme helps tenants find good homes and landlords find tenants backed by tenancy guarantees.
How it works
SCDC, ECDC and UDC refer selected, prospective tenants to the Society. Sometimes tenants come to us having already found a landlord, sometimes they come to us hoping that we will be able to put them in touch with landlords who have registered their interest with us.
The Society carries out a credit check on tenants before accepting them onto the Scheme. The tenants then find their landlord and agree the terms of the tenancy in principle.
Please note that the tenancy, its terms and any other agreement not involving the tenancy guarantee, are matters for the tenant and the landlord. The Society will not act as an agent for or representative of either tenant or landlord. The role of the Society is solely to facilitate the granting of a tenancy through the issue and settlement of the tenancy guarantee.
The tenants, the landlord and the Society meet at the property and agree the terms of the guarantee, any inventory and a schedule of condition of the property. A three way agreement is signed.
At the end of the tenancy a further meeting is arranged at the property to agree settlement of the guarantee.
What the Tenancy Guarantee covers
The tenancy guarantee is a guarantee up to agreed amount against unpaid rent and/or damage or dilapidation which cannot be attributed to fair wear and tear.
It is, therefore, a guarantee against unpaid rent whether due form the tenant or the Housing Benefit Office.
It is also a guarantee against theft or damage to the landlord’s property, its fixtures, fittings and contents.
Who holds the money and who decides over payment?
The guarantee is an undertaking that the Society will pay to the landlord any arrears of rent any non fair wear and tear repair or replacement costs at the end of a tenancy and in accordance with the agreement signed at the beginning of the tenancy. The money backing the guarantee is held by the Society. It is not released to the landlord unless by agreement at the end of the tenancy as described above. The final decision over payment under the Scheme is made by the Society. The Society acts as a fair and impartial arbitrator.
How landlords register their interest in the scheme
If you wish to have your name added to the register of landlords who want the Society to contact them to place tenants please contact us:
By telephone: 01223 312294
By fax: 01223 355394
By email: info@kingstreeths.org.uk
