Council Guaranteed Rent Scheme Hammersmith
Landlords looking to maximise their rental returns by achieving a higher rental income can do very well in Hammersmith. Whilst it is not always easy to find your ideal tenant without using the skills of an estate agent, who inevitably will cost you a fair chunk of the rent, it's important to ensure all tenants are vetted/referenced correctly.
The profile of Hammersmith residents is typically a young, diverse and mobile urban population. However, in the borough of Hammersmith and Fulham, the average home costs 19.32 times the average income. This puts homeownership out of reach for most ordinary people, and hence a substantial part of the tenant population. This makes Hammersmith a popular choice for Landlords selecting an area to invest in, especially if they can offer the affordable homes Hammersmith families so sorely need.
In 2015, the Office for National Statistics reported that one-third of people living in Hammersmith and Fulham were privately renting. The same report showed that on average, these families stayed up to three years before rental costs pushed them out. For those receiving universal credit Hammersmith can be one of the most difficult areas to settle in. The population is projected to rise by 9.1% in the period 2018-2031, making Hammersmith and Fulham the country's eighth most densely populated area. It is twice as densely populated as London as a whole.
Affordable Homes Hammersmith
How does Lease for Life promote the interests of landlords in the borough? We always advise that a landlord meet their prospective tenant; meeting the prospective tenant helps you have a much better idea of a person - when you are eye to eye, you are not just trusting a piece of paper that states this tenant can pay the rent. At the same time, you need to know your tenant has a history of working well with their previous Landlords. If you can't meet in person, other ways to connect face-to-face include Facetime and Zoom. Failing this, having a really great Letting/Managing Agent who can do this for you and that you can rely on is very important.
If you are a landlord with a property to rent in the Hammersmith area, our team at Lease for Life Mentoring would love to assist you 100% for FREE. All our prospective tenants are fully vetted and come with a selection of Landlord Rent Guarantee Insurance, Council or Government Bonds. By providing a rent guarantee for landlords, Hammersmith property specialists are making it possible for local residents to plan for the future with confidence, without jeapordising the interests of the landlord. Other tools we can use to facilitate agreements include the council guaranteed rent scheme Hammersmith families can access.
We work with tenants to engage with landlords and letting agents positively. It’s common for tenants on ZERO hours contracts to be rejected, because the Referencing Portal requires 2.5 times their income against the annual rent (sometimes 3 times the income), meaning the average Londoner earning around £34,500 PA can only afford a rental of £13,680 PA (£263.07 PW). This system is so out-of-step with the reality of the situation that low-income families are unable to even be considered for a home through a traditional Lettings Agent.
Landlord Tenant Match Hammersmith
By using free LHA landlord services to promote equal housing opportunities, Hammersmith Landlords can reduce their liability, access full Lettings and Management support, and even reduce the rent if possible while still achieving a higher return – a win/win.
And yes, you read it correctly – we are a free service when your rental property is available at the Local Housing Allowance Rate (LHA rate). You can find your property's LHA rate at lha-direct.voa.gov.uk .
BUT even if you are looking to achieve a rental above the LHA rate, still contact us as we also have tenants with higher budgets. They, like many Landlords, want to see their resources/patronage going to help local families on lower incomes stay local. You will be supporting hardworking families just by using our services, as your support helps us finance our work to help your local community in Hammersmith and Fulham.
We are more than Agents; we also provide tenant mentoring Hammersmith residents can call upon to help them engage with landlords/Letting Agents, encourage positive dialogue, and navigate the shortage of affordable homes in London.
Working with the best available safeguards and empowering tenants and landlords to meet face-to-face, our goal is to allow landlords to make an informed choice on the "suitability" of the tenant for their property. A great landlord-tenant relationship is built on mutual agreement, and that's why we work with both landlord and tenant to ensure the tenancy is a good fit for both parties. At the end of the day, the landlord always has the final say.
Hammersmith has a broad demographic of tenants; key-workers, low-income householders, those working part-time and full-time. From the kind of people you pass every day in your community - the student working shifts at the supermarket, the nursery teacher at your local crèche, the father working two jobs to make ends meet - to the financially independent, such as solicitors, doctors and bankers. All are essential for a healthy and vibrant community, and when they are able to consider tenants who are in receipt of local housing allowance Hammersmith landlords make the area better for everyone.
Many Hammersmith landlords already benefit from our services, so if your property is suitable for a hardworking family, why not contact us to see how we can help you rent your property safely, and for free? The individuals and families we recommend are carefully selected. They have proven track records and can demonstrate that they make reliable tenants. When we find a successful landlord tenant match Hammersmith landlords and tenants both benefit. We will then provide you with all the normal landlord services, including full management, for free.
Want to join our Mentor Program?