Landlords could be hit by benefits cuts

Recent housing benefit reductions announced by the UK government could mean which landlords are faced with the decision of either cutting their rental costs or removing any tenants which claim it
It will cause a great deal of regional variation in those areas which are worst affected by the reductions. People living in the North West of England are unlikely to be as badly affected. Families living in five bedroom properties in London will be required to find an additional £6,993, or relocate into less costly accommodation.
The Chief Executive of Shelter said which the reductions could result in 'significant social and personal upheaval'. He also stated it would lead to 'huge clusters of poverty and inequality, creating an even bigger gap between rich and poor'.
In related news, the amount of repossessions administered by private landlords has risen by twenty three percent since the onset of the recession. The number of claims of this type filed by private landlords went up from eleven percent in 2004 to 17% in 2010.
Trower and Hamlins spokesperson, Michael Donnelan, stated 'Private landlords have come under financial strain themselves and are likely to move much faster to replace a non-paying tenant with a paying tenant during a period of financial uncertainty'.
Any landlord who is worried about the thought of their tenants falling in arrears on rental payments are firmly encouraged to take out Rent Guarantee Insurance. This is one of the many types of Landlords Insurance that safeguard act as a shield for rental property owners.

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www.rentguaranteeinsurance.co.uk

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