New scheme to fund refugee rental deposits
A new scheme providing deposits for refugees who want to move into private rented housing has been launched by property industry charity LandAid and NRLA partner Tenancy Deposit Scheme (TDS).
The pilot project will also suppport the tenants when it comes to moving into their new home.
It is the first national scheme of its kind in the UK and has been established to help those in need access a stable home and a secure future.
The three-year pilot aims to provide support to at least 135 refugee households, and there will be capacity for this number to increase.
Tackling barriers
One of the biggest obstacles refugees face in securing a property within the PRS is being able to raise the funds for a deposit, with social enterprise Beam matching eligible refugees with suitable properties.
Initially launching in London, Manchester and Nottinghamshire, refugee households will be able to access a deposit allocation. Most of these deposits will be recycled back into the scheme at the conclusion of tenancies, ensuring that more refugees can receive assistance in the future.
British Red Cross, City Bridge Foundation and MTVH Migration Foundation are the other partners involved in this vital project, with total funding estimated at upwards of half a million pounds, more than a third od which will cover deposit payments.
Partners acknowledge the immense challenges that many individuals face when seeking housing in the UK private rented sector, and they hope this initiative can pave the way for similar models to support other vulnerable groups in the future.
If you are a landlord who would like to know more about this project click here for more information.
