Appendix 2
Financial Products for Private Sector Landlords: progress on actions
Private Sector Leasing Scheme (PSL)
Agreed action
Progress made
A service level agreement is developed between Chapter 1 and the
council which defines … performance indicators, referral agreements,
marketing arrangements and management plan etc.
A draft agreement is with Chapter 1 and should be agreed
during September 2015.
A full review of the service is undertaken in 12 months and should the
service not be meeting demand, approach the market to soft market test
alternative service delivery mechanisms
This is built into the agreement and will be undertaken 12
months from the receipt of a signed agreement.
Opportunities to provide joint services to increase supply (for example,
providing a rent bond to landlords entering into the Private Sector
Leasing Scheme) are explored.
This is being investigated as part of the Rent Bond Team
business plan noted below.
A joint marketing strategy (alongside the Rent Bond Scheme) which
clearly defines the target market for the service and also monitors
performance will immediately be developed and implemented.
Outline plan developed, and performance management
information gathering in progress (with frequent monitoring
meetings) to track performance.
Chapter 1 will ensure that it explores and seeks to exploit the potential
provided by other sources of revenue subsidy in order to attract more
landlords, though it is recognised that this could be limited by any future
reduction in these subsidies.
This is implicit in the agreement but Chapter 1 has
concerns that inflating rents with additional subsidy will
disincentivise clients from gaining employment as loss of
benefits (plus inflation by increasing rents) will make move
on unaffordable
Rent Bond Scheme (RBS)
Agreed action
Progress made
Establish a clear business plan defining the parameters of the desired
level of service (including performance indicators, referral agreements,
marketing arrangements and management plan)
Currently being drafted. Performance indicators have been
prepared and are being collected to inform the joint
marketing plan.
The exploration of opportunities to provide joint services to increase
supply of landlords to either the PSL or Rent Bond scheme.
Being considered as part of the above.
An assessment of the potential benefits and risks of extending the
existing scheme to cover:

A financial reward (of £250 to £1000) for the successful referral of
landlords from local lettings agents

A financial reward to tenants on successfully completing a rent bond
without default

Extension of the Rent Bond Scheme to cover legal costs of eviction to
landlord

One off payments to landlord to cover potential short falls in market
value rent and Local Housing Allowance
The immediate development and implementation of a joint marketing
strategy (alongside Chapter 1) which clearly defines the target market for
the service and also monitors performance
An outline plan is with Chapter 1 for joint resourcing.
A policy is developed on how the council should work with residents that
have defaulted on previous rent bonds but have represented as homeless
No work has been undertaken at this stage.
A new (digital) management system is explored
Initial meetings with IT services have taken place.