EXtraLet
EXtraLet is a scheme run by Exeter City Council to improve access to private rented accommodation for households in housing need.
Running the private rental scheme
The Council helps
private sector landlords bring properties up to the Decent Homes Standard and
acts as a managing agent, charging a competitive 10 per cent fee. As part of the
role it guarantees rents, conducts regular inspections, fast tracks housing
benefit, vets tenants, arranges maintenance and assists with evictions when
necessary.
To bring properties they manage up to the Decent Homes Standard, EXtraLet secured Private Sector Renewal Grants. This enables them to carry out work including rewiring, adequate heating systems, cavity wall and loft installation, kitchen and bathrooms, decoration and carpets and asbestos checks and works.
Setting the scheme up
The decision was made by the Council to set up a private rental scheme
because of the difficulties getting people into private rented accommodation in
Exeter. There
is a significant demand for housing in the city, high levels of right to buy
and competition for private rented accommodation, which means there is limited
available social housing.
In setting up EXtraLet the main financial costs for the Council were advertising and publicity material, legal costs, rent and deposit guarantees, incentive payments and staff time. Investment came in the form of £70,000 of revenue funding from Second Homes Council Tax sources.
The financial benefits for Exeter City Council of placing tenants into private rented accommodation are great. The overall costs of a tenant in an EXtraLet property for a year is £778.99, compared to £1,832.37 to place somebody in temporary accommodation.
Other advantages of the scheme include offering tenants a greater choice of accommodation at a better standard. It also helps to create sustainable and mixed communities whilst contributing to Empty Homes targets and reserving new build social housing.