Government action needed to prevent student landlords leaving, warns Propertymark

Government action needed to prevent student landlords leaving, warns Propertymark

0:01 AM, 15th February 2024, About 2 months ago 6

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The government is being urged to take action to prevent a potential crisis in the student rental market as fed-up landlords increasingly look to sell, warns Propertymark.

The professional body for the property sector points to a survey by Save the Student, a student money advice website, which found that nearly 40% of undergraduates have considered dropping out of university because of the high cost of rent.

Also, 7% of students have been homeless at some point.

The survey also revealed that 64% of students have struggled to pay their rent.

‘Lack of available housing and increasing mortgage rates’

Sophie Lang, a student let expert and ARLA Propertymark regional executive for Cornwall, said: “Students are facing rent increases for the next academic year, and this is due to a lack of available housing and increasing mortgage rates for landlords.

“University attendance is increasing, yet available housing is not in line with that growth.

“Due to demand, rent in the private sector is increasing, and due to mortgage rate rises and the impact of tax relief changes, the number of Housing in Multiple Occupation landlords selling up in the last 18 months has also increased.”

‘Increasing legislation for landlords owning Houses in Multiple Occupation’

Ms Lang continued: “If you couple this with the increasing legislation for landlords owning Houses in Multiple Occupation, which is far more stringent than that of residential rentals, we will see landlords continue to exit the market.

“Universities heavily rely on the private rental sector for second and third-year students, therefore it is important that the UK government understands the crucial part landlords play in meeting housing demand, rather than continuing to penalise them.”

She adds that student maintenance loans need to be increase in line with inflation because general household bills and the cost of living have increased.


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Comments

Whiteskifreak Surrey

9:43 AM, 15th February 2024, About 2 months ago

We are students landlprd and one of our students properties is now on the market.
(If anyone is interested please PM me.)
We have loved being a student landlord but now the low mortgage rate is coming to an end and we are fed up with being treated as an enemy of the state and worse than islamic terrorist - the house (in a prime student area) will have to go.
Watching what that viper Gove is doing now was the final straw.

Judith Wordsworth

10:26 AM, 15th February 2024, About 2 months ago

Part of the problem is that the parents of these students have not taught their children to respect property.

Wonder if these parents of students who trash their rental property/ are happy to live amongst unwashed crockery, filthy bathrooms, uncleaned toilets etc etc would have put up with similar behaviour before they were students and when they come home in the holidays?

Yvonne Francis

10:37 AM, 15th February 2024, About 2 months ago

Never mind any more government action there is no mention of the real bombshell to hit student houses, namely the Renters Reform Bill. If this bill is not modified the warnings of Propertymark will be nothing to the RRB.

TJP

11:53 AM, 15th February 2024, About 2 months ago

Reply to the comment left by Whiteskifreak Surrey at 15/02/2024 - 09:43
Gove is an idiot

Michael Booth

16:33 PM, 16th February 2024, About 2 months ago

Not only student accommodation, but all the prs, this tory government has systamatic destroyed the prs along with shelter and other housing charities, now liebor are waiting in the wings to get their boot into it time to get out l for one will be selling up after 25 years anyone buying last 4 quality properties in the ts5 area ?

Michael Booth

16:41 PM, 16th February 2024, About 2 months ago

Reply to the comment left by Whiteskifreak Surrey at 15/02/2024 - 09:43
Same here out after 25 years.

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