Councils all over the UK are facing a tough task to provide care placements for children. Many are dealing with increases in demand as well as rising costs. It is an awful situation, made worse by the fact these are some of the most vulnerable children in the areas. Bromley Council is looking to make a positive investment though. Let’s have a look at their plans and what it means for the area. Then, if you need guaranteed rent in Bromley, you can speak to us.

Plans approved

At an executive committee meeting at the end of November, plans for a new children’s home got approval. It will provide space for five children. The hope is it will improve provision in the borough while also cutting costs.

The Council will purchase a property that was previously a private children’s care home. As a result, the goal is it will be ready for the first residents within a year. This is factoring in the timeline for registration with Ofsted.

While there hasn’t been confirmation on the location, council documents say the property is in Chislehurst. It is a popular area, one we know well from offering guaranteed rent in Bromley. The location is crucial because it ensures children will be able to remain within the borough. Often care placements mean young people need to move to a new area, potentially making it a much more stressful time.

An interesting thing here is the Council chose to act quickly to agree the move. The decision was made because a sale to a private care home operator was on the table. The local authority did not want to lose out, so they will pay more than the market rate. However, they said the property holds more value than a typical purchase.

Lowering costs

A crucial factor here is investing in the children’s home will help to save the council on costs in the long term. They estimate it will be as much as £400,000 per year assuming an 80% occupancy rate.

The Council said there have been significant increases in care costs in the last few years. Some placements cost over £8,000 per week. Having an in-house care home could save £2,000 per week for each of the five placements.

Speak to us about guaranteed rent in Bromley

There are plenty of fantastic properties to invest in all across London. They come in all shapes and sizes, from individual homes to apartments in blocks and estates. You can even find a fair share of assets like children’s homes, HMOs, and more. Overall, it makes the city a great place to look for investments.

If you do invest and want some help, you can rely on us. Our services are designed to ensure you get a simple solution that ensures your properties bring in money consistently and don’t require a lot of managing. We specialise in guaranteed rent in Bromley and all other parts of the city. By working with local authorities, we can overcome many of the issues people have when they are private landlords.

So, if you want to arrange a service or have questions, speak to us.