The Valuation Office Agency are trying to encourage landlords to report their rental charges per property so that local authorities are able to draw an accurate picture on the what the average rent charge across the private rented sector is in their area.
In case you are wondering why the VOA needs this information, the figures are used to help determine the local housing allowance, otherwise known as housing benefit. The amount of money tenants on Housing Benefit receive is based on the average market rent in their area. Currently this figure is based on the 50th percentile of the average rent in the area, but the government is planning on making significant cuts to the amount paid to tenants and future housing benefit payments will be based on the 30th percentile of rent payments in the local area.
As we are all aware, the number of people living in private rented accommodation has been soaring of late. This has inevitably led to an increase in the average rent across the board and many local authorities are behind the times in terms of their figures. In order to help make sure tenants on housing benefit receive enough money, local authorities rely on up-to-date information and according to the VOA, it is very easy for landlords to report their rent figures: simply fill in a lettings information form and email/post/fax it back to the VOA. The VOA promise that all information will be kept confidential, but if you want to find out more about reporting rent charges on your properties, check out the VOA website.
