How will the Renters Reform Bill impact the student rental market if unchanged?
Student renting works differently to the rest of the private sector rentals particulalry in purpose-built student accommodation (PBSA) otherwise known as halls of residence. However, hundreds of thousands of students are only guaranteed PBSA in their first year and therefore live in private student housing in close proximity to their university.
PBSA providers offer fixed-term tenancies to students for perhaps 9 months or up to 12 months; such tenancies have a clear start and end date and are designed for the academic year. Often student housing is then re-let, again short term, during the summer months to summer school students or camps etc...
This is why the pledge made by Michael Gove is so important. Landlords in the student housing sector need a guarantee that their property will be made available for new tenants each year. A shorter tenancy also works for students, providing them with the flexibility to move properties if their needs change throughout their studies and allowing them to secure a property for the fixed period that they are attending university.
The current version of the Renters (Reform) Bill bans private student housing providers from offering fixed-term tenancies - effectively outlawing contracts that correspond to university term times but exempting the PBSA sector but not private landlords who let to students.
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How will the Renters Reform Bill impact the student rental market if unchanged?
Student renting works differently to the rest of the private sector rentals particulalry in purpose-built student accommodation (PBSA) otherwise known as halls of residence. However, hundreds of thousands of students are only guaranteed PBSA in their first year and therefore live in private student housing in close proximity to their university.
PBSA providers offer fixed-term tenancies to students for perhaps 9 months or up to 12 months; such tenancies have a clear start and end date and are designed for the academic year. Often student housing is then re-let, again short term, during the summer months to summer school students or camps etc...
This is why the pledge made by Michael Gove is so important. Landlords in the student housing sector need a guarantee that their property will be made available for new tenants each year. A shorter tenancy also works for students, providing them with the flexibility to move properties if their needs change throughout their studies and allowing them to secure a property for the fixed period that they are attending university.
The current version of the Renters (Reform) Bill bans private student housing providers from offering fixed-term tenancies - effectively outlawing contracts that correspond to university term times but exempting the PBSA sector but not private landlords who let to students.
Valuation Services provided by The Ringley Group
Meet our Expert Property Commentators