As a landlord have you ever thought about renting to tenants receiving Housing Benefit?
We offer well maintained properties to good tenants claiming housing benefits or Universal Credit. All houses must be in a good state of repair and have all necessary legal certification before we can advertise them.
These properties need to be good but affordable homes. We want to offer the right kind of property for those on Universal Credit to live in.
Key advantages of “DSS Tenants” for Landlords
- Tenants in receipt of benefits tend to stay in a property much longer than those in the private rental sector (PRS), which means you will have less rental voids and increased cash flow.
- Direct payment can be obtained in a large number of tenancies, reducing the risk of arrears. Pick My Pad have the knowledge, expertise and understanding of the complex process involved to ensure, where applicable, direct payments can happen.
- The increase in local housing allowance (LHA) rates (over 35% in Salford) means much higher yields and cash flow.
- Pick My Pad can take away the complexity of dealing with the council / Department for Work and Pensions for landlords currently struggling with the various changes in processes and legislation.
- Landlords can access rental bond schemes and offer advance payment solutions for tenants who cannot afford the upfront tenancy requirements.
- If you have properties you are struggling to let due to their location, we can help.
- Higher than market rents can be achieved by letting to tenants on benefits. We can quickly review their projected entitlement and let you make an informed decision.
- Some DSS properties can be let unfurnished, which keeps refurbishment costs down.
- Payment of council tax will be the responsibility of the tenants.
- The landlord has no need to provide utility bills and monitor the usage as the tenants will be directly responsible to the utility supplier.
We know that there is often a negative impression of this sector of the market. We believe this should not be the case and the supply of reasonably priced homes to an acceptable standard should be available to those on Universal Credit or Housing Benefit.