Student property has long been one of the most lucrative investments available to landlords, with sky-high double-digit yields typically available in many parts of the country.
But the departure of thousands of students from UK universities and colleges back to their parental homes has led to concern from landlords and letting agents. But what will September bring for student landlords?
The National Residential Landlords Association (NRLA) will host a webinar this afternoon to find out.
John Stewart, deputy director of policy and research at the NRLA, will be presenting on the current situation, what guidance is available, and what options landlords have for the 2020/21 academic year.
He will be joined by Candace Davies, head of accommodation at the University of Lancaster and there will be a Q&A at the end.
To register for the webinar, click here.
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I would hope that all student landlords would be asking for the full year's rent up front.
I'm fairly relaxed so long as I have four solvent middle class guarantors sharing joint and several liability and who value a good credit rating. I've never had to get to court with the mere threat of a ccj being enough to get any arrears settled or rents paid to end of the lease, when Scotland's landlords and tenants could still agree on a mutually acceptable lease period. Our biggest threat currently is all joint tenants agreeing to up sticks on 28 days notice if the snowflake lecturers stay scared of face to face teaching.
You do ever so well persuading other student parents to stand guarantor joint and severally liable.
No way would I ever be a guarantor for anyone.
A considerable business achievement in obtaining such guarantors.
Paul
It's the norm in Glasgow student flats and any questions or doubts see me move on to the next group wanting the flat. Having said that, many think that they are only guarantors for their own offspring and while my standard letter does spell it out and suggests that they seek independent legal advice, I've never had a refusal when the alternative is not getting my flats. Perhaps with cheaper lower quality properties, market forces don't make this so easy but I have never been tempted by lower quality properties or the resulting tenants.
As I've said before I don't rent to students, not since the 90s, however if I did, no suitable guarantors no tenancy, simple.
Serious Rent arrears now, this is worst in 42 years a LL & I was there well before any Section 21 or 1988 act. I have been through about 5 recessions but never before did I have Rent arrears by Statute.
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