Posts with tag: student landlords

Insured Guarantor Service for Students and Professionals Expands

Published On: July 20, 2017 at 8:21 am

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Insured Guarantor Service for Students and Professionals Expands

Insured Guarantor Service for Students and Professionals Expands

Housing Hand, the UK’s only secured and reliably insured guarantor service for students and working professionals from the UK or abroad, is expanding internationally to Europe, Asia and the Far East.

The firm has recently launched in India, with a base in New Delhi, and aims to expand exposure in the region. Housing Hand is hoping to increase the number of Indian students and professionals moving to the UK using its guarantor service.

The company has also formed a partnership with 51Offer in China – the largest firm working with Chinese students coming to UK universities. A formal partnership agreement was signed in Shanghai and Housing Hand is working closely with 51Offer to further expand the brand in China.

The Managing Director of Housing Hand, Jeremy Robinson, comments on the expansion: “We currently work with many international students who have begun their study in the UK. Our partnerships with UK and international accommodation providers will help to grow the volume of applicants that are looking to secure a UK guarantor, before reaching the UK.

“We have met with many universities and accommodation providers who are keen to reduce their financial risk and widen the pool of potential tenants. By expanding internationally, we can further add to the secure and risk-free tenants we hand over to accommodation providers.”

He continues: “We are looking to become the first international guarantor service, with plans to launch in Ireland later this year, followed by a rollout to France in early 2018 and America in 2018/2019.

“The rental markets overseas are very different from the UK, and there are obvious legal and operational challenges ahead of us. However, we see real demand for our service in France, as thousands of UK nationals, both students and professionals, are renting there.”

Are you a student landlord? If so, you may find that this insured guarantor service is suitable for your tenants, either UK nationals or overseas students. It is worth looking into ahead of the new academic year.

Which Political Party will Mostly Benefit Student Tenants?

Published On: April 26, 2017 at 8:30 am

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As the UK prepares to go to the polls once again, student tenants and landlords alike will be considering which political party to vote for.

StudentTenant.com has assessed the many morals, manifestos and tactics from the three main political parties to guide those in the student lettings market on who to vote for to get the best deal.

A lot has happened since Britain voted to leave the EU last year: David Cameron has stepped down as Prime Minister; Theresa May has taken over and triggered Article 50; and now Britain is preparing for another General Election.

Since May announced the snap General Election to be held on 8th June, party campaigners have been fighting for votes. But finding the right party to benefit student tenants and the future of the private rental sector can be confusing.

Last year, 18-24-year-olds overwhelmingly voted to remain in the EU (71%), but many things have changed since then.

Who should student tenants and their landlords vote for? StudentTenant has investigated the pledges of the top three political parties:

Labour

Private rental sector reform:

  • Reduce rents and increase security for tenants renting from private landlords.
  • Regulate the rental sector to stop substandard accommodation and unfair charges from lettings.
Which Political Party will Mostly Benefit Student Tenants?

Which Political Party will Mostly Benefit Student Tenants?

University tuition fees:

  • Last year, Jeremy Corbyn campaigned to abolish tuition fees by raising £10 billion in taxes from businesses and high earners.
  • 7% rise in National Insurance for those earning over £50,000.
  • 5% increase in Corporation Tax.

There has been no mention of tuition fees by Labour for the upcoming General Election.

Post-Brexit economy and business:

  • Long-term investment in the workplace – creating a high wage, highly skilled workforce to increase productivity and create more job opportunities for young people.

Conservative 

Private rental sector reform:

  • Encourage housing associations and local authorities to increase the supply of rental properties.
  • Attract investors into residential development, including homes for rent.

University tuition fees:

  • Previously raised the tuition fees to £9,000 under the coalition government and has recently increased by a further £250 without an announcement from the Department of Education.

Post-Brexit economy and business:

  • Investment into smaller businesses and enterprises, to create 1.9m new job opportunities for young people.
  • Cut Corporation Tax to help companies invest internally and grow, to create more job opportunities.

Liberal Democrats

Private rental sector reform:

University tuition fees:

  • Last year, the Liberal Democrats announced that they would force a vote by MPs in a bid to stop raising the current £9,000 limit.

There has been no mention of tuition fees by the Liberal Democrats for the upcoming General Election.

Post-Brexit economy and business:

  • Build a sustainable economy for the future by supporting small businesses and new business models.

Danielle Cullen, the Managing Director of StudentTenant, comments: “Educating young people about the upcoming General Election and what each political party is offering them is incredibly important to the future of Britain. We’re edging ever closer towards Brexit, and young people must make an informed decision on who they should vote for, and actually make the effort to go out and put a cross in the box.

“Looking into specific housing, university and post-Brexit economy pledges from political parties, it’s clear that some parties are much more beneficial to the student demographic than others. However, it is also important to think about life beyond university, and the job market for young people and housing issues for young professionals. If we can help some people in more than just finding a student property by actually helping them shape their future, I will be pleased.”

She continues: “A lot is changing in the student sector, particularly in the private housing market, with the announcement that the Government is planning to abolish letting agency fees. It’s encouraging to see that the Government is finally putting in place structured policies to help the rental market, but it’s so important to understand more about the logistics of how this will affect young individuals.

“The current Tory plans leave an area of uncertainty in who is going to foot the bill. Property specialists are predicting that landlords will seek to recoup the costs from rising rents, eventually absorbing the agency costs. We could see some landlords quit the rental market when faced with absorbing these extra costs which could be problematic for the student rental market in particular.”

Private Student Landlords Left Behind as Private Halls Investment Grows

Published On: February 24, 2017 at 9:55 am

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Private student landlords are being left behind as investment in private halls of residence continues to soar, according to lettings portal StudentTenant.com.

Private Student Landlords Left Behind as Private Halls Investment Grows

Private Student Landlords Left Behind as Private Halls Investment Grows

One of the UK’s largest student property developers has recently set out plans to invest more than £300m over the next three years to create an additional 7,500 student rooms across the UK.

This news follows shortly after the student property specialist revealed a strategy shake-up to target more towns and cities with high-performing universities.

This academic year, the group has opened five new properties, creating 3,000 beds, in addition to 4,800 in ongoing projects for 2017. In the next three years, a further 7,000 beds are set to be created in new private halls developments across the UK.

The Managing Director of StudentTenant, Danielle Cullen, warns: “We’re currently seeing a student rental crisis in many areas in the UK. As a growing imbalance between supply and demand develops, rental prices are increasing, making it a less affordable option to study away from home. The student rental market is desperate for investment and it’s great to see vast amounts of money being spent.”

With over 1.7m students in full-time education in the UK and almost 60% of those living away from home, demand for student housing is high.

As for supply, 53% (230,000 beds) of total purpose-built stock is university-owned, while 47% (200,000 beds) is privately owned by private hall investors and landlords. But as investment in private halls rises, there are growing concerns for private rental housing.

What is uncertain, though, is the impact that this will have on the residential shared housing market and private student landlords. In 2015, private halls only accounted fro 6% of the entire student property stock. In recent years and based on development plans, this is set to significantly increase.

Some cities have recently had new private halls of residence developed, causing a handful of private student landlords to be left with unlet properties at the end of the last academic year.

StudentTenant is worried that this trend of leaving private student landlords behind will stick.

Cullen continues: “Whilst investment into private halls is great for students and competition, it will have a huge impact on private landlords in the areas of investment. Traditionally, private halls were always the higher end of the market in terms of both quality and price. Now more developments are completing, however, creating more competition, the price points are lowering, leaving some private landlords in trouble.”

What Will Brexit Mean for the Student Lettings Market?

Published On: February 21, 2017 at 9:57 am

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This month has brought the big news that MPs have overwhelmingly voted to allow Theresa May to trigger Brexit under Article 50. But what will the UK’s exit from the EU mean for the student lettings market?

With a 498-majority vote, the Prime Minister is now one step closer to reaching her goal of starting negotiations with Europe by the end of March 2017.

What Will Brexit Mean for the Student Lettings Market?

What Will Brexit Mean for the Student Lettings Market?

However, as Theresa May visits the House of Lords debate over Article 50, there are still plenty of questions surrounding the student lettings market; Will rents rise or fall? Will supply and demand change?

Although some experts predict a bright future for student landlords, others say the student lettings market is highly unpredictable and unstable. But it’s probably somewhere in between, believes student lettings portal StudentTenant.com.

In the last academic year, 1.72m students studied an undergraduate degree at a UK university, of which 7.2% were from EU countries.

German students top the list, with a total of 13,425 studying at university level, closely followed by French and Italian students (12,525 and 12,135 respectively).

University College London attracted 4,185 EU students, the most in 2015/16. King’s College London came in second place, with 3,560 students, while the University of Edinburgh had 3,510 EU students.

But what will Brexit mean for EU students in the future? With immigration control central to the Brexit plans, it is looking likely that non-UK students may have to apply for a student visa or short-term study visa in order to study and live in the UK.

Danielle Cullen, the Managing Director of StudentTenant, explains how Brexit will affect the student lettings market: “Naturally, landlords are worried about the uncertainty surrounding the student lettings market as a direct impact of Brexit. It is becoming increasingly alarming that EU students will have to apply for a study visa; it’s another hoop to jump through before they get access to a British university education.

“We could see a fall in EU students in the UK following Brexit, which would have a significant impact on student landlords. Supply could well outgrow demand, putting pressure on landlords to find tenants and maximise the profitability of to let properties. We’ve seen plenty of experts predict a vast drop in demand for student letting as a result of potential EU immigration restrictions, but there is still time to change that.”

She adds: “Our Government must take steps to ensure Britain remains welcoming to international students, not just for the student rental market, but to ensure British universities are innovating with the brightest and best minds.”

Following the vote to trigger Article 50, Theresa May was quick to release the Government’s plans for leaving the EU, dubbed the Brexit White Paper. The official policy document outlines the key themes for negotiation with the EU, immigration, trade and sovereignty, all of which could have a huge impact on the student lettings market.

The Impact of Right to Rent Checks on International Students

Published On: February 16, 2017 at 11:32 am

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The latest research from student lettings platform StudentTenant.com exposes the impact of the controversial Right to Rent checks on international students, as the Government tries to crack down on illegal migrants.

Introduced in February last year, the Right to Rent scheme was launched by the Government as part of a wider initiative to assist with combating illegal immigration.

All landlords and letting agents are now required to check that tenants are legally in the country before renting out a property, or face criminal sanctions.

The Impact of Right to Rent Checks on International Students

The Impact of Right to Rent Checks on International Students

Tenants, including international students, must prove that they are legally allowed to reside in England by providing their identification documents to landlords. Tenants that do not provide the documentation could face deportation.

As it has now been a full year since the Right to Rent scheme was introduced, StudentTenant has assessed whether it has been successful in combating illegal migration, or if it has become an avenue for landlords to discriminate against international students/tenants.

Government data regarding the Right to Rent checks found that, of the 7,806 calls made by landlords to the Home Office between July 2015 and June 2016, just 31 illegal migrants were deported – calling into question how effective the scheme really is.

Furthermore, the official Right to Rent report from the Home Office reads: “Landlords, agents and householders should not be acting in a discriminatory way provided they make all checks on prospective adult occupiers.”

Nevertheless, a damaging new report from the Joint Council for the Welfare of Immigrants suggests that the scheme is causing discrimination against Britons, particularly ethnic minorities.

In addition, StudentTenant found that an alarming 23% of landlords were less likely to consider international students, while 76% of student landlords would not consider a tenant if they could not provide documentation that proves they are legally allowed to rent the property instantly.

It is likely that, due to requirements from the Government to check the legitimacy of documentation, recording expiry dates of immigration status and the pressure of fines, landlords are less willing to take on the extra burden of international students, the agency believes.

12 months on from in the introduction of the checks, 47% of student landlords still feel that the scheme will not have a significant impact on filtering out illegal immigrants in England – the core reason it was set up. What’s even more worrying, StudentTenant points out, is that 17% of landlords are still unaware of the rules.

The Managing Director of StudentTenant, Danielle Cullen, says: “When the new Right to Rent regulations were introduced, there was uproar amongst the landlord community, because of the supposedly unfair burden placed on them in relation to enforcing immigration laws. I have to say that the apparent ineffective implementation of the regulations so far seems to have warranted that uproar, particularly given the adverse effects on the international community legally residing within the UK.

“The worst part must be the lack of resources to actually police the changes, represented by the very minimal number of fines and deportations. Instead of actually assisting with a problem which should essentially be managed by the Government, it has simply created divides and increased discrimination and access to housing for non-British tenants, which is just not acceptable.”

Have your attitudes towards letting to international students changed following the introduction of the checks?

Record Month for Student Lettings in January, Reports Agency

Published On: February 14, 2017 at 9:25 am

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Online student letting agency StudentTenant.com has reported a record month for student lettings in January.

Record Month for Student Lettings in January, Reports Agency

Record Month for Student Lettings in January, Reports Agency

The firm experienced strong growth in property uploads, viewings and bookings over the past month.

The latest data from StudentTenant shows that property searches on the student lettings site rose by a whopping 75% in January.

Property requests were five times the average in January, highlighting the trend of students booking properties almost nine months before they move in.

The record-breaking number of confirmed bookings and lettings followed a surge of demand, as students rushed to secure housing for the next academic year.

In addition to its record month for student lettings, StudentTenant saw an increase in traffic in the final quarter of 2016, as students rushed to find a home. The firm’s data indicates that property searches were up by 74% and landlord sign ups by 22% in November, as both parties prepared for the January rush.

Figures also suggest that students were twice as likely to sign up to StudentTenant in November and December, as they began their search for properties for the next academic year.

The Managing Director of the student lettings site, Danielle Cullen, says: “It’s been another brilliant month for us. We’re extremely happy with the performance of StudentTenant over the past year, especially in January, as our team has been working extremely hard to keep up with the surge in demand. Figures reveal that January is the busiest time of year for students searching for properties, so it’s extremely important for us to get landlords on our site before demand peaks.

“The trend to book property so early is a long-standing tradition in a lot of UK cities, which can be both positive and negative for students. Booking somewhere with a group of people so far in advance means a lot can change in terms of both relationships and financial stability, so we always encourage students to make an informed decision before they secure somewhere.”

She adds: “2016 was a fantastic year for us, and our record requests and bookings are yet more great news. Our continued growth in the UK is underpinned by a heavily growing market, which is very exciting to be a part of.”

Landlords, have you seen a surge in student lettings already this year? If not, you should be putting your properties on the market soon!