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SOURCE Just Landlords
NOTTINGHAM, England, April 29, 2014 /PRNewswire/ --
One year after the controversial bedroom tax was introduced to the UK's housing market protests have been seen on the streets of Hull. Protestors occupied the city's central Queen Victoria Square in defence of the city's five-thousand residents affected by the bedroom tax.
The reforms stipulated that social tenants living in council housing would have a cut in housing benefits if they occupied properties with spare bedrooms. Tenants with one spare bedroom received a benefit cut of 14% while those with two spare rooms received a benefit cut of 25%.
Protestors have objected to the legislation due to the fact that many social tenants have been forced to move home or find themselves considerably in arrears. Consistently rising rent prices in the UK has put additional pressure on social tenants which has been compounded further by the bedroom tax.
The reforms have also put pressure on social landlords, many of whom are concerned that their properties are likely to be unoccupied for the foreseeable future. Tenants with large families or who have previously shared a property have particularly struggled to afford high rent prices under the new regime.
Landlord insurance provider Just Landlords has reminded any social landlords of the importance of rent guarantee insurance. The number of social tenants who could potentially fall into arrears has considerably increased under the new legislation, and landlords seeking to avoid late payment fines on their mortgages should ensure they are covered appropriately.
It is possible that protests will be held around the UK over the coming weeks, and with the UK's general election on the horizon it may transpire that the bedroom tax is a critical issue for voters involved in the social housing sector.
About Just Landlords
Just Landlords is a landlord insurance provider based in Nottingham that has worked in the industry for over 15 years. Just Landlords offers landlord insurance, rent guarantee insurance and unoccupied property insurance for landlords letting a single property or who wish to cover a portfolio of properties.
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