Topped up14 Dec 2023 13:48
Anybody involved in renting private property to students can tell you that it has a dismal near term future. Removal of mortgage tax relief, increasing HMO regulation, interference and the imposition of multiple £30k fines, plus the last coffin nail which is the prospect of a labour government, with rent controls and probably a greater tax burden, is a gradual ramp up of reasons to quit. That’s without the extra hassle of a more aggressive and demanding student population, on top of foreign students who have a disproportionate tendency to abuse property and not pay rent.
So many of my landlord acquaintances are selling up and so many students cannot find rooms at ANY cost.
WJG can only benefit from the demise of the private landlord. They offset their debt against income. I don’t think they bear the same impact of council regulation, but at least it is a much lower cost per room. Our local halls of residence charges 60% more per room than private landlords. They can easily wipe out a students deposit with the removal of a few blue tack marks on the wall and if there is unpaid rent or damages, the student cannot pass that year or graduate from uni.
We private landlords can’t compete with that. I have two more properties exchanging this / next month and I can’t wait to drop the rest.
All good for WJG and set to get a lot better.