Leasing Scheme Wales
Leasing Scheme Wales provides landlords and owners of empty homes the opportunity to lease their property to the local authority for between 5 and 20 years.
The scheme provides property owners with a guaranteed monthly rental income and a full property management service from the local authority, without the need to pay commission.
As well as providing owners with a consistent income stream, it also helps local authorities to meet the housing demands in their area.
Benefits for property owners
Guaranteed and regular income
No arrears or rental voids. Owners signed up to the scheme will get guaranteed rental income, at the relevant local Housing Allowance rate.
Variable lease terms
Owners can sign up properties up for leases between 5 and 20 years.
Full management of the property
The scheme offers a guarantee of appropriate support for tenants, for the lifetime of the lease.
Maintenance of the property undertaken and paid for
The scheme covers repairs of any damage to the property made by tenants.
Funding to bring properties up to agreed standards
Properties may be eligible for a grant of up to £5,000 - for empty properties up to £25,000 may be available.
Save money by leasing your property
Leasing a property through the scheme means that owners could save money and not have to pay for:
- finding tenants
- management fees
- costs for gas safety or EICR during the lease period
- rent guarantee insurance
During the term of the lease, maintenance of the property is the responsibility of the local authority. This means that there is also no need for home emergency cover for repairs or to put money aside for maintenance.
These benefits could potentially save more than £10,000 over a 5 year lease period.
Who runs the scheme?
The scheme is funded by the Welsh Government and managed by local authorities.
There are currently 20 local authorities taking part in the scheme.
Want to know more?
Get more details about Leasing Scheme Wales and find out how to apply on GOV.WALES.