SmartMove Bond Guarantee Scheme
Can you afford to pay a large deposit for privately rented accommodation?
If you are unable to afford a bond or deposit because of a low income or if you are claiming benefits we may be able to help with a Bond Guarantee.
How does it work?
We can provide a written bond guarantee to the landlord in place of a cash deposit. This means that if you owe money at the end of your tenancy for damage, loss, or rent arrears up to a maximum of one calendar month, the landlord can claim against the bond.
Who can use the scheme?
You will be considered for the Bond Guarantee Scheme if you are:
- Homeless or threatened with homelessness
- On state benefits/earning a low income and have insufficient savings to pay for the deposit yourself
Finding a property
You need to find suitable accommodation to rent and a landlord who is willing to participate in the Bond Guarantee Scheme.
What next?
When you have found a property SmartMove will go through a financial statement with you, if it is found to be affordable, SmartMove can go ahead with the Bond Guarantee and then you can sign the tenancy agreement.
Will there be a cost for the scheme?
If the landlord makes a claim on the bond due to damage caused to their property or for rent arrears, the tenant may be asked to repay the sum to SmartMove.