In this episode of Listen Up Landlords, presenter Richard Blanco (@richardblanco_) discusses NRLA calls to reverse the decision to freeze Local Housing Allowance (LHA) rates – a move which has seen more and more tenants struggling to make ends meet.
LHA rates are used to calculate benefit payments for housing costs. Historically rates were set at the average rental price for an area, with the sum regularly reviewed. However the rate was reduced to the 30th percentile in 2011.
They were frozen between 2016 and 2020 when they were realigned to the 30th percentile once more at the outset of Covid, based on rental prices as of September 19.
They have remained at this level despite real-world rents going up by more than 10%.
In just over two years to August 2022 the number of households facing a shortfall in their housing benefit increased by 50%. The NRLA has been campaigning on the issue for some time, asking the Government to reverse the freeze, to support both the 38% of private renters in receipt of housing benefit, and the landlords housing them.
Richard is joined by Leeds Landlord Jessica Reehal who owns 22 properties in Leeds and rents mostly to families in receipt of benefits and Julie Ford, who is a tenancy mediator for the Property Redress Scheme and runs the NRLA course on Tenant Finance.
They talk about the issues they are experiencing on the ground and what needs to change.
Joseph Taylor of the Landlord Advice Team joins us for our regular update on the hot topics on the phonelines, before Richard talks to landlord MaryAnn Richmond-Coggan, who built a successful rental portfolio in South East London, before opening a farm and community garden in Kent, running a charity enabling youngsters from the city to experience the great outdoors.
She talks about buying at the right time, the challenge of refurbishment and giving something back.
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More information
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To find out more about the NRLA campaign on welfare and benefits click here.
