Landlord Grants Ease Cost of ConversionPublished Wednesday, 09 November 2016
Landlords in Ribble Valley are being offered cash for the creation of affordable rented accommodation.
The cash is up for grabs from Ribble Valley Borough Council in the form of grants for the conversion or renovation of affordable properties, particularly flats.
Up to 50 per cent of the cost of converting or renovating properties – £10,000 per flat or £15,000 per house – is available.
On completion, the property must meet the Government’s decent homes standard and be let for a minimum of five years, during which the council will set an affordable rent and have nomination rights.
Simon Hore, chairman of Ribble Valley Borough Council’s health and housing committee, said: “There is a chronic shortage of affordable housing in the borough, particularly for the young or single people, and our grant system is helping to alleviating the problem by encouraging prospective landlords to enter the rented accommodation sector.
“Grants are currently available and we are keen to hear from prospective landlords without delay.”
Clitheroe landlord Chris Smith received funding for the renovation of a three-bedroom family home in Whalley Road.
“I received a grant towards renovating the house and in return will let it at an affordable rent to a local person from the council’s housing waiting list.
“This is the second property I have renovated with a landlord grant and I think it’s a great idea.”
Further information about landlord grants is available from Ribble Valley Borough Council on 01200 425111.