The Rent Deposit Scheme was set up in 2017 by End Youth Homelessness with funding from Yorkshire Building Society to help young people gain access to the private rented sector.
Since the end of 2017 we have been working with young people aged 16-25 who could benefit from this scheme. We are looking for young people who are in a position to move into the private rented sector and support themselves, but who need the initial financial support and advice to get them set up.
Young people from disadvantaged backgrounds, leaving home for the first time with no savings, no family support and no landlord references, can struggle to access social or private housing even if they are in receipt of the income and/or benefits that would enable them to maintain a tenancy.
If they are allowed to view a property despite being on low incomes or in receipt of benefits, they will then face the mostly impossible task of paying a large deposit and providing references from landlords when they have no history of renting.
As well as helping these young people to find an appropriate and affordable tenancy, we help them by providing landlords with a guarantee certificate in place of a traditional cash deposit. This security bond (a formal agreement) protects the landlord from damage or rent arrears, while helping young people to secure a home.
In addition, the young people receive the advice and practical help they need to turn that property into a home and sustain the tenancy as long as it is required and wanted. The support available includes grants for essential home furnishings, support with claiming benefits and progressing in employment or education, and financial advice.
Since we launched this project we have engaged 25 Landlords, and have already successfully housed 6 young people. In 2019 we will be expanding the reach of this project further as we continue in our aim to end youth homelessness for good.
‘EYH’s rent deposit scheme is an innovative and effective way of helping young people secure a property. LAR’s aim is to provide quality homes at affordable rents across Scotland for an increasing number of people who can neither afford private rents, nor have a realistic chance of being allocated social housing… We are delighted to support EYH and Rock Trust’s efforts to help young people secure a home. We look forward to working with them to help tackle a major housing issue.’ Ann Leslie, Chief Executive of LAR Housing Trust
If you are a young person and feel you could benefit from this scheme, or if you are a landlord interested in supporting it, please email Tammy on email@example.com or call 0131 524 9870