Wednesday, April 8, 2009
Buy-to-let landlords ‘face repossession’ – nuff said :)
In April last year the Local Housing Allowance (LHA) was introduced, under which money for rent was paid to tenants, rather than being paid directly to private landlords. But the National Landlords Association said research had shown that many tenants were failing to pass on these payments to their landlords. [HPC spin: Tenants can now hold the threat of payment withdrawal over their landlords, forcing them to actually undertake repairs which they might otherwise neglect for extended periods of time.] As a result, 52pc of landlords surveyed said they would now not let or would be less likely to let a property to a tenant receiving LHA.