The fund will aim to bring empty properties within the private sector back into use as affordable, rented accommodation. For owners of homes that have lain empty for at least six months, may now be eligible for a loan of up to £30,000 to help with renovation works.
It is understood the Council will work alongside a Registered Social Landlord (RSL) partner to determine what works need carried out a property to bring it up to standard. Tenants would then be chosen by the RSL and the rental income would pay off the loan and any associated costs. If the loan is repaid before the lease period is finished, the owner will then receive the rental income – minus the management charge for the rest of the lease period.
-- Advertisement --
Councillor Karen Clark, Chair of Social Work and Housing Committee, explained: "This is a great initiative to help people who have struggled to get the finance to carry out repairs themselves, or those with an empty property they wish to bring back into use. Not only will owners save money on repairs and council tax but their property will be used by those most in need of a home."
Alisan Norrie, Vice-Chair of the Committee, added: "This is another example of the innovative ways Aberdeenshire Council are using to try and provide affordable accommodation. It will bring properties back in to use, potentially providing owners with a regular income while allowing people to rent at an affordable price."
(JP/CD)
