Tenants need help with money advice

A new report from the Chartered Institute of Housing calls on
social landlords to take a greater role in raising financial
awareness among tenants.

The government wants all benefit payments – including housing
benefit – to be paid directly into individuals’ bank accounts. But
according to the institute, research shows that as many as eight
out of 10 people without bank accounts or access to mainstream
credit, or both, are living in rented social housing.

The institute also believes that a lack of financial awareness
among tenants can lead to escalating rent arrears, anxiety, stress,
breakdown of family security and the threat of homelessness.

The report says that within the next five years every social
landlord should ideally have a strategy for promoting financial
awareness among tenants.

– Financial Awareness and the Role of Social Landlords is
available from www.cih.org/policy/fat.htm

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