Finding help with rent deposit in Basingstoke and Deane

If you are unable to afford the rent deposit required by a landlord in Basingstoke, it may be possible to qualify for aid through the local council. The purpose of the aid is to ensure that lower income tenants are able to comply with the high entry requirements that are often above their ability to pay.

Rent Bond Scheme

One method for easing the entry costs for a prospective tenant is to protect landlords through a rent bond scheme. Basingstoke and Deane Borough Council operates one such scheme that provides a £1000 guarantee to the landlord.

As a tenant who is unable to afford the rental security deposit to move, it may be possible to gain access through the scheme as long as you are able to prove that you can reasonably afford to pay the monthly amount as well as related utilities. This aid is provided not as a cash payment to the tenant. Instead, a rent deposit bond is pledged by the council to the landlord.

Similar to a security deposit, the landlord may access funds from the bond in the event that you damage the property. A rent deposit bond provides this guarantee which extends for 2 years beyond the end of your first fixed term as a tenant.

If you are unable to afford both your first month’s rent and the security deposit, then you may qualify for help through the rent bond scheme at the council. Your landlord has to approve the bond as an alternative arrangement, since they normally would receive the cash deposit. You can call the council at 01256 845250 to request inclusion in the rent bond scheme. Landlords may call the Landlord Liaison Officer at 01256 845638 to inquire about the details as well as to accept the terms of such an arrangement. If approved, you could gain access to the flat without having to pay out of pocket for the rent deposit.

While this information is provided for the rent bond scheme specific to the Basingstoke and Deane Borough Council, there are also security deposit guarantees that may be provided by other entities. The council can help you determine whether you qualify for direct assistance or if they need to match you with a third party rent deposit assistance programme that can help you obtain housing. If your situation is an emergency, then they can even help you obtain temporary accommodation while you are applying for assistance.