Opportunity for landlords to increase social housing stock via free property portal
In the current climate many landlords are reluctant to house benefit tenants due to the increasing minority of those tenants unable to pay their rent on time, coupled with uncertainty around the governments’ welfare reform via Universal Credit – leaving good benefit tenants finding it extremely difficult to find accommodation in the private rented sector.
LANDLORDS / HOUSING PROVIDERS: Would you consider tenants in receipt of benefit if you could ensure to insure their rent and eviction costs, should the tenancy go wrong?
7 POINTS TO CONSIDER:
- Over the last 5 years, UK councils have spent £3.5 billion on temporary housing.
- 5.5m working adults would not qualify for full housing benefit if they were to lose their job.
- Official O.N.S statistics show that wages have gone backwards since the 2008 recession.
- 40% of renters pay more than 50% of their incomes on rent.
- Over a quarter of landlords experienced rent arrears in the last 12 months.
- County court judgements have soared by 35% compared with the 1st quarter of 2016; the highest quarterly figure for over 10 years.
- 50% of Universal Credit claimants are now in arrears or have increased the level of pre-existing arrears.
The Ark Passport is a tool to encourage landlords and housing providers to house benefit tenants with an aim to reducing homelessness, due to legislative changes making landlords retract from the benefit market; subsequently leaving tenants with limited options to access better housing options, through no fault of their own.
An Ark Passport Founder, recently asked a local group of 50 buy to let landlords: “How many of you take on benefit tenants?”, where roughly half of the forum raised their hands. After explaining the details of the Ark Passport, the group was then asked: “How many of you would house benefits tenants who were involved with the Ark Passport?” More investors raised their hands this time than to the previous question.
- Tenants of the Ark Passport have exclusive access to a Digital Banking Platform which has a “Locked Wallet” for the payment of Rent via Direct Debit (not Standing order), giving surety of rent payment to the housing provider/landlord, and ease of use of banking via the internet for the tenants.
- This is then backed up with a Rental Guarantee & Legal expenses Policy, which is holy fit for purpose, in so much as it accepts tenants with County Court Judgements up to a certain limit – who may have suffered problems in the past, looking to start again and reinstate themselves into the private rented sector with a clean slate. This is what makes the Ark package totally unique in the UK today!
In order to increase councils housing stock, landlords and agents can now advertise their available properties through the Ark Passport Property Portal absolutely FREE OF CHARGE. Please see: https://www.arkpassport.co.uk/myarkhome/ – Or show it to your local authority / housing association today!
If you would like any further information about the Ark Passport please visit http://arkpassport.co.uk/ or call 0800 999 4 275.