Under the Refurb and Rent Scheme, we're aiming to back into use properties which have been empty for more than six months.
The scheme will help to address housing need in the town, while ensuring rental income for the landlord.
Up to £16,000 of match incentive (50/50) grant funding is available per property for renovations, with the owner in return required to lease the property to a management organisation for a five-year term.
The owner will receive 87% of all rental income collected.
The scheme is open to owners of properties that have been vacant for six months or more, and once work needed to bring the property to a 'decent' standard has been identified, the owner is free to source their own contractors.
Once all the work has been completed, the refurbished property will then be leased for five years through a management organisation.
The landlord will remain liable for the cost of ongoing repairs and maintenance, and for Council Tax and utilities during void periods.
For full details of the Refurb and Rent scheme and how to apply, please call Private Sector Housing on 01642 729282.