Finefair Ltd has always worked hard to satisfy its clients. We’ve done so by providing first rate services and reliable information. There are multiple areas of real estate that we specialise in. Examples include council leasing, property management, and guaranteed rent. We can even offer advice about local housing allowance in Barnet. If this is what you’re after, continue reading.
Explaining LHA
In 2008, the government introduced us to local housing allowance (LHA). It offers a way to calculate Housing Benefit entitlement. This is for those tenants renting private sector accommodation in England, Scotland, or Wales.
The adoption of LHA led to a substantial alteration of how councils can pay housing benefits and restrictions. Most notably, there was the shift to basing entitlement on the 30th percentile of rental accommodation in the community. Prior to this, the 50th percentile or median was used.
The way that LHA functions is by utilising private market rental rates to see what individuals are paying within the area. This is referred to as the BRMA. It examines rates from the same quantity of bedrooms in the building. What the intent is here is to ensure that tenants residing somewhere with similar properties can acquire similar amounts. Something else LHA aids with is controlling costs.
When are LHA rates set?
As for when LHA rates are set, this normally occurs in January. They then take effect in April every year. The rent officer produces a list of LHA rates for all the broad market rental areas as well as every dwelling category within the area. This is up to the rate for a four-bedroom building. The LHA for a five-bedroom structure or more gets based on the rate for a four-bedroom property.
Another fact is that the local authority must publish LHA rates. Said authorities need to take the right steps to guarantee that current rates are brought to the attention of all eligible parties.
Since the LHA rates depend on where you live, you should look into the details locally to discover more about housing benefit. In Barnet, it is important to keep on top of these things. You can go to their website to look at the finer details. Additionally, the GOV.UK website can provide you with further assistance on LHA. To help make things easier though, we’ll look at a few vital pieces of information here.
Local housing allowance in Barnet
From the 16th May 2018, you’re only able to make a fresh claim for Housing Benefit if you belong to a specific group. One of these groups is people who have reached State Pension Credit age. Another is if you’re a resident in supported exempt accommodation, or if you’ve been put in temporary accommodation by Barnet Homes. If you are not in one of those groups, you must make a universal credit claim if you need aid with housing costs.
For those that can still claim Housing Benefit, you might get help with part of or all your rent. There’s no established figure for Housing Benefit. What you’ll receive is going to depend on whether you rent from a council or privately. Speak to the council if you need help with local housing allowance in Barnet.
With the council and social housing rent, the benefits Barnet provides will change depending on various factors. The figure depends on your current circumstances, for instance if people have disabilities, or the age of the people in the house. Your household income will also affect it. This includes savings, pensions, and benefits.
Your eligible rent and whether you have a spare room or not will influence the amount you receive as well. When we say ‘eligible rent’, we mean the reasonable rent for an appropriate property in your area. It includes service charges, like communal laundry or lift maintenance, but not details like heating.
Private rent
For private rent, there are differences here too. The amount you’ll receive will depend on your circumstances, and your income, including savings over £6,000, pensions, and benefits. The Local Housing Allowance Limit will also influence the amount you get.
For exceptions, if you’ve received Housing Benefits since before 7 April 2008, the limits will only apply in certain circumstances. They are if you have a break in your claim for housing benefit and if you change address.
As for how Barnet Council pays the benefits, it differs depending on the tenants. For private tenants, the money goes straight into your bank account or building society account. With council tenants, it goes right into your rent account.
Finally, we’ll briefly go over the benefit cap. This restricts the amount of benefit that the majority of people aged 16 to 64 can receive. If you find yourself affected, your Housing Benefit will reduce. This is to ensure your benefit doesn’t surpass the cap level.
Let us help you
The team here at Finefair Ltd goes above and beyond to make certain that clients have access to the services they need. We are one of the most experienced establishments working in London. You can come to us for a comprehensive package that can include guaranteed rent, management, and more. We also offer info about things like local housing allowance in Barnet.
So, please let us know if there’s anything we can do for you.
