Housing Benifit

[celtic boy]

Hi all.

I am looking for advice on renting my property to a married couple. One is working full time and the partner is a houseperson with a small child. They will be in receipt of housing benifit and I am unsure whether to go with this. I am new to this but I am not going into my venture blind. How does it work with benifits?

I m also aware of the deposit scheme but dont know which one to use. Anyone got advice on this?

Also would anyone reccommend using a rent insurance to cover myself if rent is not paid etc?

Thanks for reading this

[Trenners]

Hi Celtic,

You need to proceed with caution before deciding to take a Housing Benefit (HB) claimant as, if the benefit isn't paid by the Council (for whatever reason) you are not going to get your rent !!

Firstly, get the HB tenants to complete a Pre-Tenancy Determination (PTD) form - you will need to sign it - and then get them to submit it to the local council. The PTD will confirm the MAXIMUM amount of rent that the Council will pay - as Housing Benefit - for your property (assuming the applicants are entitled to any HB - this is determined later in the process.

Don't do anything else until the PTD comes back from the Council.

Secondly, make sure that the HB is paid directly to you from the Council (and not to the tenant). You will need to complete a section in the tenants Housing Benefit form to request this.

Thirdly, Make sure the tenant is able to pay the 1st month (and possibly the 1st 2months) rent in advance. HB is paid 4 weeks in arrears and is only paid once the tenants claim has been submitted AND assessed by the Council. Your tenant cannot submit their HB claim until AFTER they have moved into your property as they need to submit a signed copy of the tenancy agreement before their claim can be processed.

Fourthly, who is going to provide the Security Deposit. Is the tenant going to pay cash (in which case you will need to protect it in a Government approved scheme) or is the Council going to send you a "letter of guarantee" which means you won't need to protect it.

Hope that helps,

Mark (the resident HB expert) !

[celtic boy]

thanks for the advice Trenners

I will proceed with caution.

[manuelrodriguez]

Hi all.

I am looking for advice on renting my property to a married couple. One is working full time and the partner is a houseperson with a small child. They will be in receipt of housing benifit and I am unsure whether to go with this. I am new to this but I am not going into my venture blind. How does it work with benifits?

I m also aware of the deposit scheme but dont know which one to use. Anyone got advice on this?

Also would anyone reccommend using a rent insurance to cover myself if rent is not paid etc?

Thanks for reading this

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