Rent Deposit and Damage Guarantee Scheme
The Benjamin Foundation (TBF) is proud to work with End Youth Homelessness (EYH), a partnership of charities and businesses that have joined forces to eradicate youth homelessness in the UK.
EYH has partnered with Yorkshire Building Society (YBS) to help over 700 young people live independently by providing them support with rent deposits, home essentials grant and dedicated support.
Home Starter Project is a free and discretionary scheme to help young people between the ages of 16-25 with accessing tenancies with private landlords.
A rent deposit guarantee in the form of a 'Paper Bond' replaces a traditional cash deposit. The 'Paper Bond' is a formal agreement that will protect the landlord for rent arrears and damage to the property. Claims can be submitted by landlords in case of property damage as a result of a tentant's actions, or failure to meet rent requirements.
Young people accepted onto this scheme will be in, (or about to enter) education, employment and/or training. Young people will maintain the conditions of their tenancy, and agree to work collaboratively with The Benjamin Foundation to make their tenancy a success.
Young people supported through the Rent Deposit Scheme will benefit from financial advice and a dedicated named support to help build their life skills and confidence.
The scheme benefits both landlords and tenants.
Benefits to Landlords include:
- The Benjamin Foundation has a list of potential and suitable tenants, to enable you to fill vacancies quickly and free of charge.
- The Benjamin Foundation helps to secure earlier payment of Housing Benefits.
- All tenants are provided with support for paying bills, maintaining the tenancy, and where applicable, saving towards their own deposit.
- All tenants are provided with a move-in grant to help furnish their home.
- The Benjamin Foundation will actively work with you to resolve any problems that may arise.
Benefits to Tenants include:
- An assured shorthold tenancy for at least 6 months.
- Help filling in Housing Benefit forms – if necessary.
- Support and advice with any problems that arise during the tenancy.
- You can move on quickly.
- Assistance with practical matters, such as setting up utilities.
- Support to ensure that your tenancy gets off to the best possible start.
- A home essentials grant to help set up home.
PLEASE NOTE: Ultimate responsibility for granting a tenancy remains with the landlord. TBF is not responsible for letting and managing any private rented property. TBF is not responsible for the young person's actions once they move in, although we will continue to support them during their tenancy.
Home Starter Development Worker