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The Bridgend Bond Board service issues bond certificates which cover the cost of a deposit on a rented flat or house.
The tenant is then expected to save to pay back the bond over a two-year period.
The decline in social housing and rising house prices have caused an increase in the uptake of accommodation in the private rented sector (PRS). Upfront payments – including agency fees, bond monies and rent in advance – make PRS accommodation prohibitive to many people on low incomes.
All of this has the potential to put more people at risk of becoming homeless.
In addition to providing financial support, the Bond Board supports tenants in the move and resettlement process and promotes positive relationships with local landlords.