Coast & Country scheme is helping first-time tenants
First-time tenants in the Redcar & Cleveland area are being given the opportunity to prepare for the financial implications of renting, thanks to an initiative led by Coast & Country.
‘Start Right, Stay Right’ is a five-year scheme providing valuable support and advice for first-time tenants in the Redcar & Cleveland area.
Coast & Country, one of the largest regeneration and housing companies in the North East, has secured £799,729 of Big Lottery funding to pay for the initiative.
With the tenancy failure rate for first time renters being higher than those with experience, the ‘Start Right, Stay Right’ project seeks to educate and inform prospective social housing tenants before they move into one of Coast & Country’s properties.
Six ‘Start Right Advisors’ will be at the frontline of the project. Their job is to advise tenants on the financial commitments surrounding becoming a householder. This includes educating them about outgoings such as council tax, home insurance, rent, food and energy bills, TV licences, how to manage a budget and the best way of access the best deals.
Iain Sim, Chief Executive of Coast & Country, said: “Becoming a householder for the first time is a big commitment and can be a daunting prospect for many people.
“The ‘Start Right Stay Right’ scheme has benefits for tenants and for Coast & Country as a responsible social housing landlord.
“It equips first-time tenants with the knowledge needed to live independently and successfully in their own homes.
“The fact that 18% of first-time tenants in the UK are unable to cope with the responsibilties of a tenancy and leave the property with an average debt of £462 in the first year demonstrates how vital providing this support is from a business perspective.”