What is a bond?
A rent deposit guarantee bond is a written agreement between East Devon District Council, landlord and tenant. A bond is put in place instead of a cash deposit. It is a way of guaranteeing to the landlord that he can recoup the cost against a tenant for rent arrears or malicious damage to the property at the end of a tenancy up to the agreed bond amount.
How the scheme works
Prior to tenancy commencement East Devon District Council, landlord and tenant are required to sign a Bond agreement. East Devon District Council will ensure that tenants wishing to take advantage of the bond have undertaken a financial assessment in order to ensure that they can afford the proposed property and that financial hardship is not expected.
Applying for the scheme
Anyone faced with homelessness can apply for the scheme. It is the responsibility of the prospective tenants to seek accommodation and advise landlords that they will be utilising the Bond Scheme. A member of the Housing Options team will liase with both tenant and landlord to ensure that a bond is in place prior to tenancy commencement and that all parties have a copy of the bond agreement.
How long is a bond valid for?
A bond starts on the tenancy start date and ends on the last day of the tenancy.
First months rent
Please note, the scheme covers the deposit amount only and does not include any rent in advance or tenancy start up fees.
Landlords and tenants benefit from a dedicated member of the Housing Options team who will carry out checks throughout the tenancy. The Housing Officer will address any issues at an early stage if necessary in order to support both tenant and landlord.
- Work with tenants who are struggling financially and address problematic financial issues at an early stage
- Arrange for Housing Benefit to be paid direct to Landlord where requested
- Address arrears issues
- Work closely with other Council departments where necessary
- Offer landlords advice on their legal obligations as a landlord
Making a claim
Claiming for rent arrears or damages to a property is a simple process usually by way of a single application form. Further checks can be carried out at the property where necessary by a Housing Officer. We aim to process all bond claims within a maximum of three weeks from initial bond claim to issue of payment. Although in most cases this will be achievable within a much shorter time-scale.
As of 1st April 2018 there will be a requirement for any private rented sector property to have a minimum energy performance rating of E on an Energy Performance Certificate (EPC). Please visit www.gov.uk for more information.