THOUSANDS of renters can get up to £5,000 FREE in cash when they move to a smaller home.
A number of councils have introduced schemes to encourage Britons to downsize larger homes and make them available to larger families who need them.
The reason for this is the housing shortage in many areas of the United Kingdom, leaving large families with no choice but to live in cramped conditions.
To address the problem, some communities are offering payouts to encourage people to downsize homes that are larger than they need, including West Devon Borough Council.
The local authority announced last week that it would be offering up to £5,000 for families looking to move to a smaller location.
Under the scheme, residents will receive a fixed payment of £1,000 and a ‘High Demand Area’ payment of £2,500.
On top of that, you’ll get £500 per bedroom that’s “released” – which means the number of bedrooms you’ve given up to move to a smaller location.
So moving from a four bedroom house to a two bedroom property could set you back £4,500 in total – a fixed payment of £1,000, a ‘High Demand Area’ payment of £2,500 and an additional £1,000 for giving up two bedrooms.
The maximum amount you can receive is capped at £5,000.
However, you are only eligible for the assistance if you live in the West Devon Borough Council catchment area.
You must also live in a family-sized home with two bedrooms or larger and want to move into a property with at least one bedroom or less.
The council will not give you the money if the move results in overcrowding.
They must also be rented from a housing association.
To apply, visit the Council’s website for more information.
West Devon Borough Council is not the only council to offer households cash as an incentive to downsize.
South Hams Borough Council is also offering up to £5,000 to encourage people who don’t need the space to move to smaller properties.
The Royal Borough of Greenwich Council is giving away £350 for every room you give up and will pay all your moving fees.
Whilst Moray Council is offering a minimum of £1,900, with an additional £400 for each bedroom you share.
You can find out which your local authority is by using gov.uk’s online tool to contact and request more information.
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