Camden council tenants may be eligible for an incentive payment from the Tenant’s Option Fund when they:
- move to a smaller home
- exchange their home with an overcrowded family
The scheme pays tenants for each bedroom they make available to Camden’s housing services. It‘s not available to housing association tenants.
Option Fund examples
For tenants aged 60 or over, we pay £3,000 for each bedroom reduction. For tenants aged 59 or under, we pay £1,500 for each bedroom reduction.
Example 1
If you moved from a 4-bedroom house to a 2-bedroom flat, this would mean a reduction of 2 bedrooms that could be released back to our housing services. For tenants aged:
- 60 or over, you would receive a total payment of £6,000
- 59 or under, you would receive a total payment of £3,000
Example 2
If you moved from a 4-bedroom house to a 2-bedroom flat, but your adult non-dependent child moved out of your home to a one-bedroom council property, we would only pay you for a one-bedroom reduction. This is because your move from a 4-bedroom house to a 2-bedroom flat has only made one bedroom available to our housing services.
For tenants aged
- 60 or over, you would receive a total payment of £3,000.
- 59 or under, you would receive a total payment of £1,500
Check if you’re eligible
You can only apply to the fund if you’re a secure council tenant and have completed your move. You must submit your application within 3 months of moving to your new home.
You’re not entitled to a payment from the fund if you’re:
- moving to a larger socially rented home in Camden
- moving to a social rented home of the same size in Camden
- moving out of borough through a mutual exchange
- a housing association tenant
How to apply
Complete the online form to apply for a payment from the Tenant's Option Fund.
Apply for a Tenant’s Option Fund payment
What happens next
We aim to contact you within 5 working days to confirm that your application has been successful.
We pay the Tenant’s Option Fund payment into the bank account of the named tenant minus any rent arrears. To receive payment, you must have:
- returned your keys
- ended your existing tenancy