During yesterday’s Autumn Statement, the Chancellor announced that Local Housing Allowance (LHA) rates in the UK will be increased for the first time in three years, covering the 30th percentile of local market rents.
Reflecting on today’s news, safeagent’s chief executive, Isobel Thomson, said:
“In a Budget light on housing-related focus, the increase in Local Housing Allowance is a very welcome measure by Government for those tenants who have been struggling. It is also positive news for lettings and management agents who operate as small businesses, with the extended freeze of business rates allowing them to continue to operate efficiently and deliver the service to tenants and landlords that supports the PRS.”
To read full details of the Autumn Statement, please visit the gov.uk website here.