Posts with tag: student tenants

Which University City Should You Invest In?

Published On: August 24, 2016 at 8:36 am

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Following on from A-level results day last week, many students across the country will be looking to move to a new university city for the first time.

Online estate agent eMoov.co.uk has since released its annual University Property Index, which highlights the best cities in the country to invest in, based on UCAS entry level and property prices.

The agent has ranked the top 100 UK universities by dividing the average house price in the area surrounding the main campus by the average UCAS point entry requirement, to determine the average property price per UCAS point required to study at each university.

Which University City Should You Invest In?

Which University City Should You Invest In?

The research has found which university city in the UK offers the best balance of affordable property for those considering an investment and a top quality higher education.

The average house price in the top 100 university cities stands at £319,963, with the University of Leeds coming out on top. With an average entry requirement of 436.5 UCAS points and an average property price of just £95,310, Leeds has a house price per UCAS point of just £218.

Contrastingly, the Imperial College London is in 100th place, due to the sky-high house prices surrounding its Kensington campus. Although the prestigious institution requires 566.9 UCAS points on average – the third highest in the top 100 – the average property price is a whopping £2.5m, resulting in an average price per UCAS point of £4,431.

The University of Sunderland ranked in second place in the table, with an average UCAS requirement of just 290.5 – the eighth lowest in the top 100 – and an average house price of £65,201. This equates to an average price per UCAS point of just £224.

Making up the top ten are the University of Bradford (£269), University of Leicester (£301), University of Hull (£305), University of Manchester (£308), University of Dundee (£313), University of Strathclyde (£315), Aston University (£320) and Newcastle University (£349).

The complete top 100 can be found here: https://www.emoov.co.uk/university-property-index-2016/

The founder and CEO of eMoov, Russell Quirk, says: “University is often the first life step for those leaving home to study, and the cost implicated in doing so are high, with many not paying off their student debt until years after graduating.

“Investing in a property for your child can be one way of reducing the cost and can act as an additional source of income for years to come. When looking for somewhere to stay at university, as with a job, properties close to the campus are always going to be a more attractive proposition, and so buying in and around the university can help ensure interest in a property from the get go.”

He adds: “This research highlights where across the nation offers the most attractive proposition for a uni-let, in terms of close proximity to the university, an affordable property price, as well as a good level of education where the university itself is concerned.”

Landlords, are you looking for a student property investment in one of these university cities? These tips will help you prepare your property for new students: https://www.justlandlords.co.uk/news/prepare-property-for-student-tenants/

Student Property will be Top of the Asset Class for Landlords, Says JLL

Published On: August 22, 2016 at 9:25 am

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As college students across the UK prepare to go to university, property firm JLL believes student property will be top of the asset class for landlords following Brexit.

Student Property will be Top of the Asset Class for Landlords, Says JLL

Student Property will be Top of the Asset Class for Landlords, Says JLL

JLL’s Student Housing team has projected rental growth of between 3-4% in London and 1-5% across the UK market for student property. Prime yields are also expected to remain robust, with good occupancy rates and attractive income growth for the 2016/17 academic year.

The Director of JLL’s Student Housing team, Huw Forrest, reports: “While it is too early to have definitive views on the impact of Brexit on the student housing sector, it is likely to remain more resilient than other sectors. This is due to the continued attraction of the UK university market, coupled with the depreciation of sterling, which will make the UK a more affordable destination to study for international students. It is also important to remember that EU students make up only 6% of students.

“We are currently seeing good levels of investment demand following the referendum and, generally, transactions we are working on have seen little impact as a result of the Brexit vote.”

JLL’s 5% rental growth prediction for student property is echoed by Jean Liggett, the CEO of Properties of the World, who believes that Manchester in particular will see such growth.

She comments: “The UK provides world-class education in a number of highly regarded institutes across the country. In fact, three of the top ten universities in the world are located in the UK. As a result, there will continue to be a growing demand for accommodation close to these universities, causing an increase in rents that will in turn provide higher returns for potential investors.

“What buyers like about this type of investment, post-Brexit, is the fact that they provide a fixed rate of return, have no extra costs during ownership and mitigate risk, subsequently giving them peace of mind. There will always be a high demand for good quality student accommodation. In our eyes, the sector will remain resilient.”

Manchester is already home to a booming student population, which is only expected to expand again this academic year. A spokesperson for the University of Salford states that it is expecting to see an increase in applicants for the start of the 2016/17 year.

Landlords, are you considering a student property investment? Remember that students can be some of the most reliable tenants, which is vital at this time of economic uncertainty.

Students Most Likely to Lose Tenancy Deposits

Published On: September 23, 2015 at 9:32 am

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Students Most Likely to Lose Tenancy Deposits

Students Most Likely to Lose Tenancy Deposits

Students are some of the most likely tenants to lose part of their deposits at the end of their tenancy, due to leaving the property in an inadequate condition, according to new research.

A study by the Deposit Protection Service (DPS) reveals that less than one in three students, or 27.5%, receive 90% or more of their deposit back at the end of their tenancies, compared to over 57% of tenants as a whole.

The most common reason for deductions to a tenancy deposit among students was cleaning at 32%, followed by repairs at 27%, redecoration at 20% and the replacement of lost or damaged items at 19%.

The DPS has 12 tips for students to hopefully help them receive their full deposit back when they leave their rental homes.

Managing Director of the DPS, Julian Foster, says: “Students must be aware of their responsibilities as tenants and act accordingly throughout their tenancy, or risk losing money when they move out.

“As well as asking their landlord to confirm where their deposit is protected, taking simple steps such as checking household inventories and communicating regularly with landlords can help ensure that deposits are returned in full.

“Deposit protection means both landlords and tenants can have peace of mind that the money is safe, and that there is a free, impartial adjudication service if the tenancy ends in a dispute.”1

As the academic term begins, the DPS has created a video aimed at students, offering advice on how to avoid losing their deposits. View it here: https://www.youtube.com/watch?v=NivXVALXTfk

1 http://www.propertyindustryeye.com/students-warned-over-losing-rental-deposits/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Students warned over fraudulent landlords

Published On: September 3, 2015 at 2:38 pm

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With the new academic year just around the corner, the National Landlords Association is warning tenants to be extra careful when looking for accommodation.

Many students have more serious issues than late nights, cheap drinks and questionable eating habits. The NLA receive a large number of complaints each year from tenants who have been scammed by fraudulent landlords and many have been targeted online.

Scams

Previous instances of scamming by rogue landlords include tricking tenants to pay an advance fee for renting a property that was never available and using fake letter heading with NLA logos.

More commonly, fraudsters target foreign students looking to secure student accommodation online. Usually, once the money has been sent by the would-be tenant, the ‘landlord’ becomes impossible to contact, leaving the tenant as a victim of fraud.

As a result, the NLA is reissuing their guidance on avoiding rental fraud online. The guidelines have been released with the support and in conjunction with the NUS and the National Crime Agency.

The guidelines are as follows:

  • Do not send money to anyone upfront who are advertising online. Instead, check that they are genuine and try and view the property first
  • Be wary if asked to send any money via a transfer service as criminals can get details from the receipt to withdraw money from another location
  • Always use government approved deposit schemes
  • If in doubt, always contact the organisation that the landlord claims to be affiliated with, to verify their status
  • For overseas applicants needing accommodation for employment, they should ensure that they enlist the help of their employer or university
  • Always ask for paperwork and proof of the tenancy agreement and safety certificates
  • Remember that when something seems too good to be true, it normally is!
Students warned over fraudulent landlords

Students warned over fraudulent landlords

Ugly

‘Rental fraud is one of the uglier aspects of private renting and it tends to rear its head this time of year as students, particularly those coming from abroad, look to secure rented accommodation for the academic year,’ said Carolyn Uphill, Chairman of the National Landlords Association.[1]

‘Tenants, no matter where they are from, should not send payment to advertisers before they are certain it is genuine and should contact their university who will have list of reputable landlords and letting agents,’ she continued.[1]

Uphill went on to address would-be tenants by saying, ‘if you receive official correspondence from a landlord and are worried it might be a scam, often a good clue is that it will be written in poor English. Tenants should also remember they can check if a landlord is an NLA member or accredited by visiting www.landlords.org.uk/member-verification.’[1]

‘Any tenant that falls victim to such a scam should contact the relevant authorities in their own country and alert the police in the UK via www.actionfraud.police.uk,’ Uphill concluded.

[1] http://www.propertyreporter.co.uk/landlords/rental-fraud-warning-issued-to-students.html

 

 

Advice to First Time Tenants

Published On: August 15, 2015 at 10:26 am

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With the new academic year approaching, many students will become private rental tenants for the first time. Taking this into account, the National Landlords Association (NLA) has provided a number of helpful tips designed to protect them from problems throughout their tenancy.

Daunting

Carolyn Uphill, Chairman of the NLA, acknowledges: “Entering the lettings market can be daunting, particularly for those renting for the first time.”

She empathizes with students, stating: “As a student landlord myself, I am aware of the common problems and pitfalls experienced by first time tenants.”[1]

Uphill believes: “To ensure things go smoothly, it is essential that tenants are up-to-date with their rights and responsibilities.”

She goes on: “To help tenants on their way to a successful tenancy, we have compiled some top tips.”[1]

Ten top tips

The NLA’s top ten tips are outlined below:

  • Always ask if the property provider, whether it be a private landlord, letting agent, or university accommodation office is a member of any professional organisation, such as the NLA.
  • When a certain property has been decided upon, enquire if there are any additional fees to pay, such as reference or check-in charges. In particular, this should be questioned if tenants are using a letting agent.
  • Ensure that there is an up-to-date gas safety certificate for the property. By law, all gas appliances must be checked by a registered Gas Safe engineer every 12 months.
  • Thoroughly read through the property’s Energy Performance Certificate. Once again, the provision of this certificate from a landlord or letting agent is a legal requirement. By looking at this document, tenants should be able to roughly gauge the heating costs for the property.
  • Think about the cost of renting the property as a whole. Energy efficient properties should have low gas and electric costs. If energy bills are large, it is worth suggesting some efficiency measures to the landlord, to assist with bills in the long run.
Advice to First Time Tenants

Advice to First Time Tenants

 

 

  • Before handing over any money, check over any inventory provided by the property owner. All inventories should include a detailed and fair description of all fittings and furniture. Any issues, such as marks or stains, that are not highlighted should be taken up with the property provider to ensure future blame is not attributed to the tenant.
  • Once a deposit has been paid, tenants should find out which tenancy deposit scheme the landlord has used to protect their money. It is a legal requirement for landlords to protect deposits in a Government-approved tenancy deposit scheme. In addition, landlords should provide proof, known as the Prescribed Information, within 30 days of the beginning of the tenancy agreement.
  • When settled in, report any damages, accidents or breakages to the landlord as soon as possible. This will prevent the situation becoming any worse.
  • At the end of the tenancy, make sure that the property is in the same condition as when the agreement began. The property should be left clean, tidy and with all waste cleared. If this is not the case, then tenants face having deductions taken from their deposit.
  • Last but by no means least, as obvious as it sounds, tenants should thoroughly read through the contract and make sure they know exactly what they are signing up for.

[1] http://www.landlords.org.uk/news-campaigns/news/advice-and-guidance-first-time-tenants

 

 

 

 

 

Student landlords leave tenants at huge risk

Published On: August 6, 2015 at 9:11 am

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Concerning new research suggests that landlords and letting agents of student accommodation are consistently putting their tenants’ health and wellbeing at risk by neglecting electrical issues.

A report from Electrical Safety First has indicated that an alarming number of landlords put tenants’ lives at risk by not fixing serious safety hazards. The firm suggests that landlord negligence is leaving inhabitants open to electric shocks, fires and electrocution.

Dangers

Data from the report shows that 37% of landlords and letting agents did not fix exposed wiring once it was reported to them. 35% did not tend to damp issues, condensation or flooding near electrics, with 30% leaving issues around sockets and light fittings unfixed.[1]

Emma Apter, head of communications at Electrical Safety First, said, ‘these figures are unacceptable. Students should not have to compromise on safety, but these worrying figures suggest that poor landlord practice is putting lives at risk.’[1]

The research highlighted the case of Matthew, a student from Oxford, who shortly after moving into a rental property was alarmed to discover exposed wiring next to a wall socket in the bedroom. On reporting the issue, Matthew was disgusted to find that the letting agent was unwilling to take immediate action.

‘I couldn’t believe how negligent letting agents could be when it came to this kind of thing,’ he said. ‘It took me many conversations over several days to convince the agent to get it fixed.’[1]

Student landlords leave tenants at huge risk

Student landlords leave tenants at huge risk

Life-threatening

‘Cases like Matthew’s emphasise the unnecessary and dangerous situations that students are being exposed to by landlord and letting agent negligence,’ said Apter. ‘Nobody should have their life put at risk because a landlord refuses to make a repair.’[1]

She went on to suggest that there are, ‘cultural stereotypes surrounding student accommodation, but our message to students is this: you do not have to accept living in substandard or dangerous accommodation. Inform your landlord or letting agent straight away if any hazards arise and if they fail to act then your local authority is there to assist.’[1]

Shelly Asquith, National Union of Students welfare officer, said, ‘students should be able to focus on studying and enjoying their educational experience instead of worrying about whether turning on a light switch or plugging in a toaster could kill them.’[1]

‘This prioritising of profit over safety is just another example of how students across the country are being taken for a ride by greedy housing providers,’ she added.[1]

[1] https://www.landlordtoday.co.uk/breaking-news/2015/8/landlords-leave-students-at-risk