We understand that moving home can be costly and not everyone has access to funds to cover the up front costs of securing a private rented property. The Rent Deposit Scheme offer qualifying tenants a virtual deposit to help them secure a private rented property.
A virtual deposit is a written agreement between the landlord, tenant and the council. The agreement from the council offers the landlord security to cover the cost of a deposit on behalf the tenant when they don’t have the money to pay a deposit up front.
The virtual deposit lasts 12 months and the tenant agrees to save the deposit and pay this to the landlord.
To qualify for the Rent Deposit Guarantee Scheme you must:
- Be aged 16 and over
- Be able to manage a tenancy without support
- Be able to afford the rent
In addition the property must:
- Be in Newcastle
- Be accredited
When you apply you will need to provide:
- Proof of identity and date of birth
- Proof of national insurance number
- References from previous and current landlords
- Evidence of your right to remain in the UK if you are not a British Citizen
Once you have found a property you think is suitable you will need to tell us:
- The address of the property
- The Landlord’s name and phone number
- How much rent and deposit you need to pay