7 Must Know Things about LHA before Buying a Buy-to-let Property at House Auctions to Be a Landlord

Many people in UK invest in the buy-to-let property to become a landlord. Their objective behind becoming a landlord is to ensure hassle-free money for securing their later part of life. Their property investment becomes successful only when they attend property seminars and learn investment basics.

For example:

·         How to invest in property?

·         The Type of Property Auctions to Attend

·         How to Buy the Best investment Property for Sale at auctions?

·         How to Inspect the Property you are willing to buy?

·         How to take out mortgage for funding property investment?

·         To take out wealth lying in your current residence for buying a second home

They learn a lot about such things prior to attending house auctions for investing in property. This learning process does not end with you becoming a landlord. There are many things you must learn about even after you become a landlord.

LHA (Local Housing Allowance) is one such important thing.

What is it?

This housing benefit is for private LIT (Low Income Tenants) to be able to pay their rent.

Who is Eligible to Claim LHA?

Only private Low Income Tenants requiring help to pay their tenants are eligible to claim LHA.

But What Landlords Need to Know About It?

There are many things that a landlord must be familiar with about LHA

·         Does it help landlords receive rent directly?

·         How is it paid?

·         How much LHA a tenant is eligible to claim?

·         Will younger applicants get different rates?

·         What if your tenant’s LHA claim is suspended?

·         What if your tenant has his/her benefits sanctioned?

·         What other benefits is your private tenant eligible to receive?

So, are thinking about buying a buy-to-let property at London property auctions to be a landlord? Possibly because you have attended property seminars and think you have learned the best investment practices for making profit? Think again!

There are many things that you still need to learn about to be a successful landlord for making profit from your buy-to-let investments.

Call us right now and book your seat for our seminars to learn about LHA in detail.