Finefair Ltd puts the need of its clients above all else. To do this, we offer excellent services and valuable information. There are many areas we specialise in, such as guaranteed rent and property management. We even have the means to inform you about the local housing allowance in Redbridge. If you’re interested, please carry on reading.
What is LHA?
It was in 2008 when the government introduced local housing allowance (LHA). What it does is give a way of calculating Housing Benefit for people renting private sector housing in Wales, England, and Scotland.
LHA’s introduction led to a major change in how councils pay housing benefits. Restrictions also changed. Most significantly, there was the move to basing entitlement on the 30th percentile of rental accommodation in the area. Before, they used the 50th percentile or median.
LHA works by using private market rental rates to see what people in the area are paying. We call this the BRMA. It goes over rates from the same number of bedrooms in the structure. The goal is to make sure it is fair and people can claim similar amounts based on the properties they live in and rent levels in the area. It is always a good idea for landlords to consider local housing allowance in Redbridge and other parts of London.
When do officials set LHA rates?
For those wondering when LHA rates get set, it tends to happen in January. They then take effect in April. The rent officer creates a list of LHA rates for every broad market rental area and every dwelling category in the area. This is up to the rate of a four-bedroom home. While some properties may have more bedrooms, claims cannot exceed the rate for four.
In addition, the local authority needs to publish LHA rates. The authorities must work to ensure current ones are known to all eligible parties. This can help tenants to pay their rent and shows private landlords how much the council is contributing.
Because LHA rates come down to the area where you live, you must look locally. There are multiple websites with essential information on the topic. To help you, we are going to discuss some of these details here.
Local housing allowance in Redbridge
With the government scheme known as housing benefit, low income people can get help paying rent. The money they receive will come down to their savings and weekly income. Other important factors are ill health or disabilities, children’s ages, the family’s size, and the rent. If there is another adult besides a partner living in the property, it’s possible the benefit will be lower.
As for circumstances preventing people from claiming, they include seeking asylum and not being the person who is paying the rent. Other circumstances include living in the UK under a sponsorship agreement, or having savings exceeding £16,000. This can be a single person or in a couple. Lastly, people can’t claim if they are a full-time student, unless they have kids or a disability.
Housing benefit might not cover the entire rent. Moreover, it won’t cover charges for gas, electricity, water rates, and certain other services. Tenants have to be able to cover any shortfalls and their other bills.
Homeowners are unable to gain housing benefit. However, they can still be entitled to council tax reduction though.
Come to us for great services
The Finefair Ltd team always works hard to ensure that its clients are satisfied. We give them the right services and relevant details about many different topics. This all makes it easier to invest.
As one of London’s most experienced companies, you can depend on us. You are able to come to us for a comprehensive package including property management, guaranteed rent, and more. At the same time, we can tell you about the local housing allowance in Redbridge and what to expect.
So, feel free to call or email us if you need any help.
