Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Student Rental Market Disrupted by Renters’ Rights Act
Industry experts are warning that the Renters’ Rights Act has disrupted the student rental market as the academic year approaches. The ban on rent in advance, introduced by the Act, has created barriers for international students, according to lettings experts cited by Property118.
Letting agents and inventory clerks should be aware that the changes brought by the Renters’ Rights Act are having a direct impact on the student rental sector. The ban on rent in advance is specifically highlighted as a challenge for international students seeking accommodation.
The report notes that these concerns were raised by a number of lettings experts speaking to the Financial Times. The disruption comes at a critical time, with the start of the academic year imminent.
Letting professionals are advised to monitor developments and consider how the Renters’ Rights Act may affect their student rental portfolios, particularly in relation to international tenants.
Source: Property118