Changes to LHA rates may see rents rise even further
It is thought that changes in the way Local Housing Allowance (LHA) is calculated will lead to an even higher demand for rental properties and this will force rents to increase.
As a result tenants who are affected by the LHA changes may find that they have to move to a more affordable area.
As rent increases the difference between the LHA and the rent becomes larger and so extra money is needed to "top up" the rent. If a tenant cannot afford to make up the difference they will need to move to different boroughs where they can still get the accommodation below the new LHA cap. Therefore, in affected areas landlords and letting agents will see more people looking for rented homes as people look to move.
During these difficult times its important that those people on low income or unemployed claim all the benefits they are elligible for. Look at the government website which details all the benefits you maybe able to claim.