# C1117 Transition Insurance Project Manager

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [LONDON COUNCILS](/buyers/london-councils/contract-awards)
- Contract winner: EY ERNST & YOUNG
- Award value: £70,000
- Tender value: £70,000
- Award date: 19 December 2017
- Published: 16 January 2018
- Contract start: 20 December 2017
- Contract end: 31 July 2018
- Stage: awarded
- Procurement category: services
- Notice ID: 69c0e7c0-a160-41e6-befd-27408920f720-191734
- OCID: ocds-b5fd17-534307ee-723e-468e-b4e0-63d3cadf2e16

## Description

Local authorities have identified the key causes of increasing numbers of homeless households as rising house prices, rent increases and unaffordable deposits\. In London, 2 in 5 households \(39%\) state loss of a short hold tenancy as the primary reason they have approached the council for help\. This, combined with the additional requirements from the Homelessness Reduction Act 2017, has led to councils considering effective methods to prevent the risk of homelessness\. The aim of the 'Transition insurance' concept is to establish an insurance scheme for rental deposits, providing a guarantee of the availability of funds to: 1\) Transfer deposits between properties hence reducing the risk of a household reaching a point of crisis\. 2\) Cover the cost of repairs by a landlord to a rental property\. Additional information: 20/11/17 Update to closing date

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## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/69c0e7c0-a160-41e6-befd-27408920f720-191734)