Leasing

Given that there remain insufficient numbers of new permanent homes for those who need them, the Association leases good quality properties in the private sector on the Isle of Wight, which provides some medium term secure accommodation for those seeking affordable rented homes, as an alternative to being either homeless, or effectively so. The scheme is known as Housing Association Leasing - or HAL for short.

At present, the Association has over fifty properties in lease, in various locations around the Island.

Private landlords offer their properties under lease to the Association for periods of between 3 to 10 years. The Association then offers assured shorthold tenancies to appropriate applicants.

A lease rent at below market rent is paid to the landlord by monthly standing order, in exchange for which the Association takes over the complete management of the property. This includes full tenancy management, property insurance, all maintenance (except structural and heating system replacement), unoccupied periods, and any other form of loss of rent.

The property is handed back to the Landlord at the end of the lease in the condition in which it was taken on, subject to fair wear and tear, unless the lease period is extended by mutual consent - which happens in most cases.

The landlord has peace of mind that the property is being cared for by an organisation that is regulated by statute.