How Let Us Removes Financial Barriers
One of the key aims at Let Us is to ensure that people can move into housing that is affordable both now and in the future. While the current housing market makes this challenging, we’re doing everything that we can to remove financial barriers from the equation.
The English Private Landlords Survey in 2021 highlighted the reasons that many private landlords are reluctant to let homes to people who claim welfare benefits. There are a range of concerns including the challenges of navigating the system, and the risks of unpaid rent. The Let Us partnership manages over 40,000 social housing properties, and therefore has the experience, services and relationships in place to ensure that benefit claims are not a risk to rent payment. As a result, the Let Us partners do not take a tenant’s source of income into consideration when letting a home. Instead the overall affordability and sustainability of the tenant is assessed to ensure the tenant can live comfortably in their new home.
Many people struggle to save for a deposit for a rented home, and the financial pressures are becoming greater. Let Us completely understands the rationale for landlords requiring a deposit, they too need some financial assurances. However, Let Us is able to remove this requirement, improving the accessibility of the homes we manage. Landlords needn’t worry either, Let Us typically offers a guaranteed rental income and takes on the risk of bad debts and recouping the cost of any tenant damage.
We recognise that our offer isn’t the right option for all landlords. We rent properties to households at the benefit-eligible Local Housing Allowance levels, and we retain a portion of the rental income to cover our costs. For some landlords, particularly those with larger mortgages, this option isn’t viable. However, for those who can make it work, we can work in partnership to ensure that the homes we rent are affordable even if the tenant’s circumstances change.
The key underpinning of Let Us is our social values, and we’ll continue to work towards a future where everyone has the opportunity to let or rent a property in Greater Manchester.
If you’d like to know more about how we can work together be sure to get in touch with the team at Let Us. We’re always more than happy to discuss rental solutions with you, and we’ll always lead with our ethical-first approach.
Contact us today to find out more.