| Industry News |
|
| News » Residential Property Law » Landlords 'increasingly willing to accept tenants on benefits' |
|
20/05/2009
Landlords 'increasingly willing to accept tenants on benefits' |
|
Residential landlords are showing an increased willingness to have tenants who are on benefits, it has been observed.
Commenting on the trend, manager of buy-to-let mortgage firm Clarity Commercial Chris Jenkins suggested three reasons for the development of the situation, the first being that getting people to occupy homes has become harder due to the recent increase in the supply of rental property.
He also noted that many benefit claimants would not normally be doing so, commenting: "These types of tenants are usually blue collar, semi-skilled workers who are able to provide good references and pass credit scores but are out of work due to the current economic climate."
The third reason Mr Jenkins pinpointed is that it is easy to source tenants through local councils.
Investors renting property to people on benefits may wish to see a solicitor to clarify their legal rights when doing this.
Evidence of the growing propensity of landlords to accept those on benefits was shown by figures produced this week by research group BDRC, revealing that 20 per cent of landlords would do so in the first quarter of this year, compared with nine per cent in the previous quarter.
Written by Laurence Smith
 |
| |
| Related Articles |
13/01/2010
Residential property prices show new rise
The price of residential property in the UK has continued to increase, according to new figures from the Department for Communities and Local Government (DCLG).
|
06/01/2010
Prime property supply 'set to rise'
The supply of prime properties is set to increase after the general election this year, it has been predicted.
|
04/01/2010
Opportunities to invest in new build properties 'to rise'
Those looking to invest in new build property will get more opportunities to do so in 2010, it has been suggested.
|
31/12/2009
London property investment demonstrates resilience
The residential property sector in London has demonstrated greater resilience compared with other regions over the course of the past 12 months, Land Registry figures have revealed.
|
30/12/2009
Mortgage market competition 'to increase'
Those investing in property will be able to enjoy an easing of finance in the property market in 2010, it has been predicted.
|
News Archive