Yet contrary to popular belief, nearly 61 per cent admitted that their biggest fear was not property damage – with many under the assumption that LHA (Local Housing Allowance) tenants were just as likely to cause damage to property as much as private tenants – but in fact, rent arrears. Additionally, around 40 per cent of those questioned strongly believe LHA tenants maintain their property as private tenants.
For quite some time opinions have remained divided over tenants on Housing Benefit. It’s positive to see that research is going into this so there is visibility on statistics.
The industry should be working together to strengthen landlord and tenant relationships; not weaken them. Just 33 per cent of letting agents and landlords felt fraudulent behaviour to be considered a risk amongst LHA tenants, while around half think it just as likely with both private and LHA tenants.
As with any responsible landlord, just by making sure you have the correct protocol in effect can help improve tenancy standards , The landlord sector has undergone a huge transformation to ensure it upholds high standards – resulting in many landlords increasing their property portfolios.
By successfully encouraging landlords to consider both private tenants and those within the Housing Benefit category, has in turn widened the availability for tenants on both sides of the property coin.
How can I ensure adequate coverage as a landlord?
With many recognising the advantages to enlisting the help of a specialist provider, more and more people are turning to brokers for their landlord insurance needs. By working with a broker to tailor a quote that covers your specific requirements, you can be safe in the knowledge that everything important to you and your property is covered. For leading advice from one of the UK’s most prominent property experts, talk to the experts at Total Landlord Insurance today.
Total Landlord Insurance
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