To agree changes to the Lord Mayors Deposit Guarantee Scheme in order to update the scheme approach  in light of expected  changes to legislation and to boost positive outcomes for vulnerable persons.

The Head of Housing and Property submitted a report which detailed changes to the Lord Mayor’s Deposit Guarantee Scheme in anticipation of legislative changes and to boost positive outcomes for vulnerable persons.

Cllr Rowley, Executive Member for Housing presented the report.  He said the scheme had been declining in effectiveness because of the increasing cost of housing. The deposit scheme is autonomous from the housing budget and has been increased so it can sustain itself. Loans are charged at 0% interest. The scheme will be advertised at Shelter but he encouraged members to let people know about it.

The Private Rented Sector Team Leader said the pilot would show how the scheme goes, he had spoken to Premier estate agents and had been told that some landlords might take it but because of the housing demand, they do not need housing need tenants.

The City Executive Board resolved to:

1.    AGREE the enhanced one year pilot offer to landlords, as set out in this report, to help increase the number of low income non-statutory homeless households to find property in the private rented sector.

2.    DELEGATE any further minor changes to the scheme to the Head of Housing and Property, including whether to adopt the approach piloted in future, following an evaluation of the pilot.