Tenant’s Option Fund

Apply for help downsizing your home

Camden council tenants may be eligible for a Tenant’s Option Fund payment when they move to a smaller home or exchange their home with an overcrowded family. More information on eligibility and the amounts available to you are detailed below

Eligibility

You must make your application within three months of moving.

You are not entitled to a payment from the fund if you are moving:

  • to a larger socially rented home in Camden
  • to a social rented home of the same size in Camden
  • out of borough through a mutual exchange

If you live with an adult non-dependant and they move into another Camden council property, it will affect your eligibility. An adult non-dependent is someone, other than your partner, aged 18 or over who lives with you.

Examples of how your payment could be affected:

You live in a three bed property with an adult non-dependant. You move into a two bed property. The adult non-dependant moves into a one bed property. You would not receive payment

You live in a three bed property with an adult non-dependant. You move into a one bed property. The adult non-dependant moves into a one bed property. You would receive payment for downsizing one bedroom

Tenant’s Option Fund Payments

Apply for Tenant’s Option Fund Payments

The following payments are available to residents downsizing or relinquishing their homes:

Type of council tenant

Payment for downsizing

Payment for relinquishing social housing in Camden

Any tenant living in a studio or one bedroom flat

 

Not applicable

£1000

Aged 59 or below, living in a home with 2 bedrooms or more

£1,500 per bedroom released + £500 one off payment for moving via mutual exchange

 

£1,500 per bedroom released

Aged 60 or above, living in a home with 2 bedrooms or more

£3,000 per bedroom released + £500 one off payment for moving via mutual exchange

£3,000 per bedroom released

If you have any rent arrears, these will be taken off your payment. All payments will be made to the bank account of the named tenant after you have returned your keys and we have been notified of a tenancy start date.