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Richard

Local Government Support For Private Renters In The Tier Above Social Housing

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The way London is going they will only have left the very highly paid, the home owners bought 10 years plus ago, the low paid subsidised with top up benefits and those on DLA who are unable to work. ;)

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Apologies if this has already been posted but I didn't see it:

http://www.standard....=internalSearch

A London council has launched its own letting agency in a bid to lower the cost of private sector housing. Hackney’s not-for-profit agency will invite landlords to hand responsibility of their properties to the council, which will then rent them out. In return they will guarantee rent even if the property is empty and a regular supply of longer-term tenants.
Weird. Not sure of the implications of this.

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The way London is going they will only have left the very highly paid, the home owners bought 10 years plus ago, the low paid subsidised with top up benefits and those on DLA who are unable to work. ;)

Sounds like the uk as whole right now.

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If this catches on it will be interesting to see if rents fall as I am sure a lot of rent rises are the EA/LA cartel who tell landlords and tenants that rents are rising and it becomes a self fulfilling prophecy.

Edited by fru-gal

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Weird. Not sure of the implications of this.

South Cambridgeshire are doing the same thing.

They have set up a management company to manage privately owned properties. They will provide a guaranteed rent and maintain the property.

Basically a no hassle guaranteed income for landlords and an income stream for the council.

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They do this in Barnsley too, the ALMO has even been buying some properties, and there is a fund to do up private rented properties for landlords too. The landlord has a guaranteed income, even if there is no tenant.

Guaranteed housing benefit, even without a tenant.

Claiming housing benefit via tenants is an easy way to make money, but now you don't even need a tenant! ph34r.gif

And the council also competes with FTBs.

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