Landlord News

Students up and down the country are already thinking about where they would like to live when the new academic year begins. According to Greg Kinnear, Managing Director of Landlord Assist, there will be great competition for places in student houses and it is advisable to start searching early to avoid disappointment.

Mr Kinnear went on to say that there are less landlords looking to invest in student properties now than in recent years, in large part due to the shortage of affordable mortgage deals. He warned that students will have to be prepared to shell out more rent money as landlords look for ways of keeping up with monthly repayments.

'The economic downturn has made it increasingly hard for private landlords to finance new student housing and this could lead to demand far exceeding supply in many university areas', he commented.

Meanwhile, the Commercial Director of Landlord Assist, Stephen Parry, said, 'there is a real need for more quality student accommodation throughout the UK. By restricting the availability of finance, landlords are unable to expand their portfolios and the ultimate losers are those in need of rented accommodation – students'.

There is still a great deal of optimism within this sector as student demand remains high and rental yields have been increasing. Fewer landlords are having to worry about the issue of void periods as students are tending to stay in the same rented accommodation for at least two years. Many new tenants are also willing to pay a whole summer of rent before they move into a property.

Any landlords thinking of buying properties in student towns are reminded of the importance of Landlord's Insurance.