
Rate Updates
Each November, LHA rates are reviewed to reflect rental market shifts. This year, changes will affect different property sizes and regions differently, meaning some tenants may see increases while others face reductions. Early awareness of these adjustments is crucial for both landlords and tenants, especially as we move into the colder months when heating and living costs rise.
Tenant Impact
For tenants relying on LHA, a rate change can affect budgeting and rental affordability. Understanding how your specific property size and area are affected helps tenants plan for the transition from autumn into winter. Landlords can support tenants by providing clear guidance on expected payments and helping them access advice on budgeting or benefit applications.
Landlord Implications
Landlords need to assess how LHA changes influence rent collection and occupancy levels. Properties that exceed LHA limits may see higher arrears risk if tenants cannot cover the shortfall. Preparing early and communicating openly with tenants helps mitigate potential disputes, while reviewing rental pricing strategies can maintain demand and reduce void periods.
Benefit Calculations
The updated rates impact how benefits are calculated, affecting total household income and eligibility. Ensuring you or your tenants understand the new calculation methods prevents surprises and delays in payments. This is particularly important in November, when households begin to face increased heating costs and other seasonal expenses.
Stay ahead this November - check your LHA rates with expert guidance today.
