Housing benefit tenants are showing increasing signs of frustration as it becomes harder for them to find private landlords who will accept them.
Online searches for rental homes where LHA tenants are accepted have increased 400% across London and the Home Counties since April.
Aki Ellahi of Dssmove says that his site has 15,000 people currently searching for accommodation in London, followed by Leeds and Manchester, each with 1,000 people searching.
Aki, who founded the site in 2012, said: â€œThe sharp rise in London searches is partly due to the new Â£500 weekly benefit cap that came into effect on July 15, which is making it impossible for tenants to rent in certain parts of London.Â Demand is outstripping supply.
There are over five million people currently claiming Housing Benefit in the UK. The House Crowd specializes in buying investment property to let to LHA tenants. We believe we are helping those who most need it to find a decent property to live in, whilst for our property investor partners we focus on a steadily growing market. Supply is diminishing as many Landlords retreat from the market and demand is also increasing. Thus we are able to obtain an excellent rental income and let all our properties quickly.
We were pleased to read this week the GMB union, which represents over 600,000 workers across the public and private sectors is calling for stronger penalties from the Government against landlords who leave their properties empty.
A review into housing across the UK has revealed 4.2% of homes are currently unoccupied in the North West, whilst large cities in the North of England, including Leeds, Liverpool, Manchester and Bradford, are those most affected by empty homes, despite soaring population rises recorded during the past decade. The GMB union said such a large number of empty dwellings at a time when there is acute pressure on the housing market signaled that there are not enough penalties in place against leaving a property vacant.
We think this is a great idea, as it will help tackle the plethora of empty run down properties in the UK, which currently stands at over 900,000. Not only will the penalties encourage private landlords to bring their properties back in to use, a change in the law could benefit landlords with occupied properties in areas blighted by empty homes, by helping to raise property prices and rents and making the area generally more desirable.
At the House Crowd, our ethos is to make money for our investors; however, we are also proud of the fact that we breathe new life into properties that others have left to rot and fall into disrepair.
The House Crowd is a brand new concept in property investment which allows people to invest small amounts via crowdfunding (for more information on the process, visit www.http://thehousecrowd.com/thehousecrowd//how-it-works/). We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their investments (for more information about us, visit www.http://thehousecrowd.com/thehousecrowd//about/our-manifesto/). If youâ€™ve read enough and want to invest now, visit www.http://thehousecrowd.com/thehousecrowd//invest-in-property/).
Political parties are renowned for being worlds apart, and this week was no different, as we read about, Grant Shapps, the housing minister and his Labour counterpart Jack Dromey, both announcing differing views, polls apart, on the housing sector.
As is expected, our current government claims to be seeing a rapid and dramatic increase in the number of affordable homes being built, whilst the party out of power highlights a mounting crisis and a collapse in affordable homes being built. Who do you believe?
At The House Crowd, we donâ€™t rely on manipulated housing statistics, attention grabbing headlines or whether the market is â€˜doomâ€™ or â€˜boomâ€™. As a property investment group, we are focusing on refurbishing empty BMV properties, breathing new life into them and then selling them on, hopefully helping to get some of the currently un-lived in bmv properties back into use again in areas where they are desperately needed.
So why not leave the housing debate to the ministers and put us to the test by getting involved with the House Crowd!
The House Crowd is a brand new concept in property investment which allows people to invest small amounts via crowdfunding (for more information on the process, visit http://thehousecrowd.com/thehousecrowd/how-it-works/). We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their property investments (for more information about us, visit http://thehousecrowd.com/thehousecrowd/about/our-manifesto/). If youâ€™ve read enough and want to invest now, visit http://thehousecrowd.com/thehousecrowd/invest-in-property/).