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 a Camden Council tenant who is currently under occupying their property.

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 are a housing association tenant

If you live with an adult non-dependent and they move into another Camden council property, it may affect the amount of payment you will receive. 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-dependent. You move into a two-bed property. The adult non-dependent moves into a one bed property. You will not receive a payment as there is no net gain to the council from you moving, as you and your non-dependent will move to the same number of bedspaces that you have relinquished.

You live in a three bed property with an adult non-dependent. You move into a one bed property. The adult non-dependent moves into a one bed property. You would receive payment for downsizing one bedroom. Please note that under occupation is assessed by the total the number of people currently living in your home and not the number of people included in your housing application.  If there are more people living with you than on your housing application, then you may not be under occupying your council tenancy.

No one should be left in your home when you downsize to your new home. You are required to give the Council vacant possession. 

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.