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Millionaire landlord Kevin Green fears benefit changes could put him out of business
By RarkenFriday, November 08, 2013
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‘SECRET Millionaire’ Kevin Green has said benefit changes could put his tenancy business at risk.
Carmarthenshire-based Kevin Green, who took part in Channel 4 series Secret Millionaire, is the landlord of more than 700 homes.
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Millionaire landlord Kevin Green
But he has told a news website he fears tenants will fall behind on their rent when a new system of paying benefits is introduced.
He said he might have to stop letting to people on welfare.
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The UK government has said it is restoring fairness to the welfare system, and that it is working on protecting landlords and tenants.
Most of Mr Green’s 762 properties are in or near Llanelli.
And he said around 60 per cent of his tenants received benefits.
Under the Government plans six working-age benefits - including housing benefit - will be merged into one monthly payment into the claimant's bank account - called the Universal Credit.
A trial of the system in Torfaen among social housing tenants found arrears rose from around £20,000 to almost £140,000 in seven months.
Private sector tenants have their housing benefit paid to them, rather than it going directly to the landlord.
But Mr Green, who experienced homelessness in 1984, said he feared some would struggle with their household finances and fail to keep up with the rent.
"What we're finding is if rent payment is put in the tenants' hands they are not being taught in school or further education to run a home and they just can't budget," he is reported as saying.
"And it's going to lead to huge arrears. It could lead to us going bust at the end of the day and not providing homes for less fortunate people as well."
He added: "If we pull out of the market that's hundreds of houses that we rent out in this area that's pulled out.
"We're the UK's largest private sector landlord. We pull those out of the social welfare market and that's houses that people haven't got to live on housing benefit."
A Department for Work and Pensions spokesperson said: "Our reforms restore fairness to a system that was allowed to spiral out of control.
"We are working now to ensure that the right protection and exemptions are in place for both tenants and landlords ahead of Universal Credit.
"Direct payments are an important part of Universal Credit to make it easier for people to move into work, but we've been clear from the outset that we will take steps to protect vulnerable people."
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4 Comments
by missbuffay
Friday, November 08 2013, 1:40PM
“Isn't it funny that people who work and also haven't received any budgeting advice in school manage perfectly well to budget their wages. People on benefits shouldn't get special treatment just because they receive benefits. If they are vulnerable, then they should be given more support and I believe that if the tenancy is at risk by paying the tenant (due to mental health problems, substance misuse etc) then direct payments of housing benefit can be made to the landlord.”
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by slim2010
Friday, November 08 2013, 12:25PM
“Private landlords can request that rents be paid to them directly if tennents on benefits default on the rent.
Is it possinle that those on benefits renting from the private sector are paying too much rent anyway?”
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by brochadav
Friday, November 08 2013, 11:36AM
“Maybe the government should compulsorily purchase his houses and make them council properties.
Just how does one man get to own 762 houses? Obviously a lot of hard work. But I fail to see how this will affect his business, unless he's suggesting his tenants are not trustworthy?
This also serves to highlight one of the problems with today's society. One man should not control so much property.
I don't know the answer but it's definitely not capitalism, not our version of it anyway. Greed is not good.”
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by Hope4Swansea
Friday, November 08 2013, 9:41AM
“Always a danger in placing the future of your business with one customer as generous as the DWP are.”
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