Total Landlord Insurance’s Post

From April 2025, the minimum wage for over-21s will rise to £12.20 per hour, helping to support tenants and improve affordability for lower income households. Plus, carers will see an increase in their earnings limit under Carer’s Allowance. With these changes, landlords may find tenants better able to afford rents, but with the ongoing freeze on housing benefits, it's important to manage costs effectively. Read more on how these changes impact landlords and tenants with our partner's, Total Landlord Insurance guide: https://bit.ly/40TgnEO #MinimumWage #CarersAllowance #LandlordTips #TenantAffordability #UKBudget

📈 As UK rent prices surge ahead of wage growth, it's crucial for policymakers, landlords, and tenants to collaborate on sustainable solutions. This article from The Guardian highlights the forecasted trends and implications for our nation. #UKHousing #RentRises https://lnkd.in/eTCGsUGH

Consider that rental rates could match our wages. Consider who is preventing proportional rates. Consider that the capitalists who collect rent have achieved what most of us want: to be paid to exist.

UK rent rises forecast to outpace wage growth for three years: https://lnkd.in/eWTZacf3 📍 Find Us @WestcleanUK: https://lnkd.in/eJd3WtH4 #cleaningservices #facilitiesmanagement #propertymanager #commercialcleaning #property #housingmarket #professionalcleaning

Her name is Valli. No pay increase for last so many years. she has been working as a common area cleaner of our apartment block. The job is of course the same. The activities and role the same. There is no additional space to be cleaned, ofcourse. when I requested our apartment owners to increase her pay, it always fell on deaf ears. This year, there were many complaining that she was not doing her work well. I found the reason was she had taken up lot more work in other blocks to meet her expenses and had less time devoted here. she was working for just forty minutes, while usually it was an hour and half. I had to strongly reason out for her with other owners of apartments to get her a wage increase and also made our secretary pay some arrears . Do our unorganized labour sector face no inflation? Do they not have kids grown to demanding fee of school and college ? Do they not need the pay hike that we demand at our work place? why do we always wait for them to ask or protest in some manner? If we increase it by a decent 10 percent per year, they are happy and will work best. you see a smile too. #unorganised #labour #wagerevision #pay #hike #workers unorganized #inflation #expenditure #familylifecycle

Last week, National Low Income Housing Coalition released the 2024 #OutofReach report, which details the hourly wage that a fulltime worker (assuming 40 hours a week / 52 weeks per year) must earn to afford a modest 2-bedroom apartment at Fair Market Rent. Rhode Island's housing wage has increased exponentially over the past five years, even when accounting for inflation. This year's housing wage is $33.20 per hour, equating to an annual income of $69,054. Meanwhile, the average renter wage is $18 / hour and the state minimum wage is $14 / hour. "The most effective solution to addressing this issue is to build more homes across all income levels," commented HNRI Executive Director Melina Lodge. HNRI, and our partners in Homes RI, are committed to advocating for policies and programs that ensure everyone in our state has access to safe, secure, and affordable housing." Read more here: https://lnkd.in/etjMJwKv

Rents Rising Faster Than Wages: A National Housing Squeeze #newyorkrealestate #newyorkrealestateagent #newyorkrealestatebroker #longislandrealestate #hamptonsrealestate #nyrealestate #realestatenyc #realestateny #manhattanrealestate #compassny

June, in addition to being Pride Month and National Homeownership Month, is also Really Important Housing Policy Research Reports Month. (You see why they don't let *me* name things!). Last week, Harvard's Joint Center's State of the Nation's Housing. This week: National Low Income Housing Coalition's Out of Reach Report. The Out of Reach Report calculates the "Housing Wage" - what a household needs to earn (per hour, assuming 40 hours per week and 52 weeks a year) in order to afford the Fair Market Rent (FMR) 1- and 2-bedroom apartment. (FMRs are usually the 40th percentile rental unit in a market). For the Madison metro area, the 1-bedroom housing wage is $22.73 per hour, and the 2-bedroom housing wage is $26.38. Check out the report to find the "housing wage" for your region or state! https://lnkd.in/g_CvXmUP

Rent rises in Britain are forecast to outpace wage growth, despite having already surged at the fastest pace on record after the Covid pandemic and the cost of living crisis. The Resolution Foundation expects added pressure on millions of households and said average rents could increase by 13% over the next three years as current high growth in the private rental market work their way through existing tenancies. https://lnkd.in/eWTZacf3 #landlordsuk #propertyinvestorsuk #rentalincome #rentalmarket

“To find out, a #study by #Clever, a #real estate consultancy, analyzed #federal, county #and city data on #minimum wages and #typical fair-market #one-bedroom #rents in the 50 #largest U.S. #housing markets. (The #federal minimum wage of $7.25 #an hour was #used in the #analysis unless there was a #higher local #minimum wage in #place, and the typical #one-bedroom #rent was #based on the U.S. Department of #Housing and #Urban Development’s #Fair Market Rent (#FMR) standard.) Among the 50 #markets studied, #none were #affordable based on the 30 #percent threshold. #Buffalo was the #cheapest city for #renters making the #local minimum #wage of $15 #per hour. They would have to #spend 39 #percent of their #income to #afford a #typical one-bedroom #priced at $1,001 a #month. For a Buffalo #renter to #comfortably afford that .#apartment, the local #minimum wage would #have to #increase to $19.25 #per hour.”