News from Manor Lettings
30 September 2010: Landlords missing out by rejecting LHA tenants
Many landlords are missing out on a significant percentage of the rental market by refusing to accept tenants who are in receipt of housing benefit, says Landlord Assist.
Under the current Local Housing Allowance system, instead of rent being paid directly to private landlords to cover housing costs, it now goes straight to the tenants who are responsible for passing on the rent money to their landlord.
However, in practice many landlords have been exposed to rent arrears through non-payment, forcing many to remove their properties from the system.
But Graham Kinnear, MD at Landlord Assist, says landlords needn't miss out on this share of the market should they take necessary precautionary measures. He said: "We believe that approximately 20 per cent of tenants are in receipt of a Housing Benefit Award, which is a substantial amount of the market. "
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