Leasing Scheme Wales (LSW) is funded by Welsh Government and managed by Monmouthshire County Council (Monmouthshire Letting Service). The leasing scheme provides an additional opportunity for landlords to lease their property to the local authority with a guaranteed monthly rental amount and property management for between five and twenty years. Working with Private landlords and property owners to provide good quality homes in Monmouthshire.
How it works?
Leasing Scheme Wales offers :
- Leases of between 5-20 years
- Guaranteed rental payments for the length of the lease at the relevant Local Housing Allowance rate
- Where necessary, an offer of up to £5000, as a grant, to bring properties up to an agreed standard and/or to increase the EPC rating to level C. Additional grant funding of up to £25,000 is available for empty properties
- Repairs of any damage to the property made by tenants covered, subject to reasonable wear and tear, and the landlord’s liability for structural defects. This would form a term of the lease
- A guarantee of appropriate support for tenants, throughout the lifetime of the lease.
What can the team do for you?
With the Leasing Scheme Wales (LSW) and in line Monmouthshire Letting Service we can offer you a superior quality property and contact holder management service. As our business partner in the leasing scheme the Monmouthshire Letting Service can also offer you:
- Guaranteed rent even if the property is unoccupied (during void periods)
- Full written inventory and photographs taken of the property before occupation
- Regular inspections of the property by our local housing team
- Guaranteed return of the property in its original condition (less fair wear and tear)
- Guaranteed vacant possession at the end of the lease
What landlords need to do to join Leasing Scheme Wales
To lease your property on ‘Leasing Scheme Wales’ you will need to ensure that you can:
- Provide Gas Safety, Electrical Safety and Energy Performance certificates
- Provide Buildings Insurance (including Public Liability)
- Where relevant, provide written permission i.e., letter/email, confirming that your lender agrees to you leasing the property through the Scheme
- Meet mandatory property standard requirements set by Welsh Government (a grant is available to bring properties up to the agreed standard)
- Provide a copy of Land Registry to confirm ownership of property
- Be responsible for paying any service charges related to the property and any external works to the property
Factsheet – Leasing Scheme Wales PDF >