The Government must do more for those at the start of the property cycle, particularly students, insists free-to-list student rentals platform, StudentTenant.com.
While this week has brought good news for the property market, following announcements to build the first wave of Starter Homes and the development of 14 garden villages, StudentTenant believes that more must be done for those at the beginning of the property cycle, especially students living in the rental sector.
Government Must Do More for Those at the Start of the Property Cycle, Insists Student Platform
Over the past few years, investors have spent billions of pounds on student accommodation due to current shortages and high demand. Despite this, many campuses find themselves with an inadequate number of properties, warns the platform.
In addition, despite the huge spike in tuition fees in recent years and Britain’s departure from the EU softening interest from foreign students, UK universities continue to experience overwhelming levels of interest from prospective students.
But with a lack of suitable housing in the student rental sector to meet this demand, not only is the education of these students being hindered, as is their first experience in the property cycle, the firm states.
Danielle Cullen, the Managing Director of StudentTenant, says: “It is great news that new homes are being built for homebuyers in 2017, but we also have to address the burning issue in the rental sector.
“Many look at first time buyers as the start of the property lifecycle, but this just simply isn’t the case, especially for those that fall within the generation rent category, where homeownership may never be obtainable.”
She explains: “For many of us, going to college or university will be our first taste of the property lifecycle in the rental sector. Unfortunately, there is a high chance that this will leave a sour taste in the mouth, as many students struggle to find suitable accommodation.
“It is a shame that the rental sector in the UK is not a top priority on the Government’s agenda this year, because so many people across the nation depend on this form of housing. If they can’t manage to provide an appropriate level of affordable housing, they should at least ensure that there is an adequate rental sector to fall back on. Regulation of pricing in the sector would be a good start, particularly for students, who are forced to pay extortionate prices in areas of high demand.”
Landlords, if you provide housing for those at the start of the property cycle, remember to stick to the law and protect your tenants by providing safe, secure and good quality accommodation. Our guides explain all you need to know to be a responsible landlord: /guides/