IMPORTANT NEWS: Local Housing Allowance (LHA) have risen with effect from April 2024
Local Housing Allowance (LHA) which determines the maximum
financial support available for renters in the private rented sector has
been increased after a full review by the Chancellor of LHA rates*.
What does this mean to landlords?
This is good news if you rent your properties to a local authority or to
tenant who are in receipt of either Universal Credit of Housing Benefit as
it means that you will now receive more funding for them.
The new rates will come into force from April, and below is more
information on each area, listed monthly, depending on the size of the
rented property:
In real terms, this means that landlords in London Boroughs will
see:
On average an increase of up to 20% on their existing LHA
depending on the size of the property.
A 4 bed rate usually receiving £1894 will now be receiving £2193
per month. This equates to an additional £4000 per annum (approx.)
in rent.
HOW CAN YOU MAKE £2000? BY USING OUR HOMEFINDER SCHEME!
This scheme helps landlords to immediately let out their properties to
good tenants while providing quality accommodation for Local
Housing. We provide a cash incentive up to £2000, with a two-year
tenancy agreement with fully vetted quality tenants. What’s more, the
rent can be guaranteed in some cases, so there is no cash flow loss if
there is a vacancy.
Reach out to us today by emailing us at admin@RekaProperty.co.uk or call us on 020 3286 6468
*LHA rates are used by the DWP (Department for Work and Pensions) to calculate the maximum
housing support for tenants claiming Universal Credit or Housing Benefit.
