Student-focused landlords urged to act
A tenancy deposit scheme is urging landlords who provide student accommodation to take action, having found that almost three-quarters of those surveyed are concerned about the coming academic year.
Glasgow-based Safedeposits Scotland holds deposits on behalf of landlords and agents in line with government regulations designed to ensure responsible leasing.
It has been providing advice and information around changes to the sector due to the pandemic, as the number of students heading to campuses slumps.
The organisation is urging landlords to focus on providing the best renting experience for current tenants while considering options to diversify their future tenant base.
Safedeposits Scotland operations manager Mike Smith said: “UK universities expect to see a £2.6 billion shortfall in the next academic year due to the pandemic, with 20 per cent of domestic students not returning to university, and 75 per cent of overseas students not enrolling this September.”
He expressed confidence that demand for student housing will return, but said for now, landlords could, say, rent to young professionals looking to move away from home for the first time. Safedeposits Scotland has also found that of its landlords renting to students, almost half secured new tenancies during lockdown, while 73 per cent expressed concerns around this academic year.
“In the short term, we urge landlords to implement safety guidance from the Scottish Government and manage risk wherever possible.”