Council Offers Tenants £25,000 to Downsize

A London local authority is offering tenants up to £25,000 to move to smaller properties to reduce overcrowding and the impact of the government’s ‘bedroom tax’.  Camden is prepared to pay £25,000 to tenants who move from a six bedroom home, £20,000 for those who downsize from a five bedroom home, and £15,000 for those who give up a four bedroom home.  The offer is designed to free-up large, under-occupied council properties to make way for families that are currently living in overcrowded conditions. Camden has more than 5,000 families in overcrowded conditions, and estimates around 60 per cent of its 1,380 properties with four or more bedrooms are under-occupied. The move is also intended to limit the impact the government’s bedroom tax will have on tenants and the council. Read more on the Camden Council website.