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21/04/2009
Landlords urged to ensure protection |
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Those investing in residential property can benefit from finding out about their rights when it comes to taking on tenants on benefits, it has been suggested.
Managing director of investment portal Smartlandlord.co.uk Keshav Thukaram said that for landlords, taking on renters whose payments are being made via guaranteed benefits "can be a good way to secure a regular income in the current environment".
However, he added, "landlords taking this route must ensure they know their rights and apply to have the rent paid directly by the council if they experience problems".
Mr Thukaram also suggested rent guarantee insurance and referencing tenants are wise measures landlords could implement when taking on unemployed renters, who make up 8.5 per cent of tenants in London, according to Smartlandlord's figures.
Recently the National Landlords Association (NLA) argued that the government should revert back to the system where those on local housing allowance could have it paid directly to the landlord, amid concerns that giving it directly to tenants is leading to more non-payment of rent.
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