The majority of private landlords will not rent to students because they are concerned about the damage they could do to their property, according to new research.
A survey of over 2,000 people undertaken by student lettings app SPCE found that seven out of 10 UK landlords would not let their property to a student, making it difficult for many of those in higher education to find suitable accommodation.
In fact, six out of 10 students surveyed said that they found securing a rental property more stressful than job hunting or exams.
Two-thirds of students questioned cited poor communication from landlords and estate agents as a major issue, while 70% of those at university feel rental accommodation for students is often in a poor, run-down condition.
“Evidently, students and landlords are dissatisfied by the current state of student lettings, underpinned by a lack of trust and communication between both sides,” said Leon Ifayemi, CEO of SPCE.
With parents often acting as guarantors, Ifayemi believes that there is a “very low risk” of students not being able to pay rent on time or provide compensation for damages.
He added: “Students are also not deserving of lazy stereotypes of them as reckless party animals. They are far more conscientious than that.”
While letting to students is not for everyone, it is an area of the market that buy-to-let landlords should not ignore, according to Richard Lambert, chief executive of the National Landlords Association (NLA).
“Those who do [let to students] would be surprised by these findings, because student lets offer the highest rental yields and are least likely to experience rental arrears compared to other tenants, such as professionals, couples, or families,” he said.
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