The Leasing Scheme in Wales facilitates the lease of privately rented properties. Councils have access to properties for 5 to 20 years while landlords maintain ownership of the property.
Launched in January 2022,in the first two years 90 properties have been leased to Local Authorities across Wales.
Properties leased by the scheme must have an EPC rating of C, with funding available of up to £25,000 to bring them up to this standard.
Those most interested in the scheme are ‘accidental’ landlords (landlords renting a property they didn’t originally intend to rent out) and those who own their properties outright. For property owners, the main benefit of the scheme is the Local Authority’s management of the property.
For tenants, the scheme provides tenancy support and affordable rents with participants on the scheme reporting a positive impact on their wellbeing.
