Securing an LHA tenant – The increasingly stereotypical route
Open up the property section of your local newspaper or search through an online portal today and you will see that more and more letting agents are offering their properties to LHA tenants with enticing offers such as NO BOND REQUIRED or MOVE IN FOR FREE. These offers are prime examples of a business model which is based on securing tenants quickly by removing as many barriers as possible that would otherwise usually prevent them from being able to secure a property. Aside from the monetary factors unfortunately for landlords the other barriers tend to relate to vetting procedures which more often than not are relaxed or none existent. This typically results in tenants being secured solely on their ability to qualify for direct payments rather than on their previous rental history and individual merit.