Student Property & Coronavirus

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • buzzard1994
    replied
    How reasonable landlords can afford to be depends on what their own commitments are.

    At times like this people want their loved ones with them if possible - and young people can help their family by doing the shopping for them. I would have regarded by child as safer under my eye than with other young people so tempted to go out when they should not. It's also cheaper for them to live at home even if it's just utilities they are not paying for.

    Legally you have a contract and they should pay. Landlords that are as flexible as they can be will be more likely to get their pick of tenant next year.

    Leave a comment:


  • jpucng62
    replied
    I own a student rental too. The students will be getting their normal loans & have signed contracts until the end of the year but most have gone home now and will not return.

    My plan: as it is nearly the Easter holidays, let the rent run until the end of the holiday as normal. For the summer term offer them to terminate their contract early and remove all their stuff or pay half rent if they want to leave their stuff because they are planning to return next year.

    We LLs need to be reasonable in these unprecedented times.

    Leave a comment:


  • theartfullodger
    replied
    From "The Times" of yesterday regarding "Unite Students" , biggest student landlord...
    The nation’s biggest provider of student housing has said that it will waive rents for students who return home for the final term of the academic year.

    Unite Group said that it expected the action to result in a loss of up to £125 million of rental income, but added that the decision would help it to “emerge from this uniquely challenging time with our reputation with students and universities, not only protected but enhanced”.

    It is finding cash savings elsewhere, including by cancelling the final dividend payment for 2019 and suspending further distributions until market conditions stabilise. If no dividend payments are made this year, it will save £124 million.

    The company said that it was stopping any spending on developments and non-essential operational capital expenditure, which would retain up to £105 million of additional cash this year.

    Unite was founded in Bristol in 1991 and is a member of the FTSE 250. It is the largest student accommodation provider by scale, with about 74,000 beds across 177 properties in 27 towns and cities. It operates all its properties and rents rooms directly to students or to about 60 universities.
    etc etc etc etc...

    On reflection I think their position is correct. I'm taking a flexible position. In reality nothing can realistically be done regarding unpaid rent for a few months.

    I guess landlord could sue under small-claims for unpaid rent, but can't see any government permitting that .

    Stay safe folks!

    Leave a comment:


  • islandgirl
    replied
    My son is also at uni and the same situation applies as Claymore - they are being released from their contracts and do not have to pay the final third. They are allowed to leave their stuff in their flats until it is safe to come and get it free of charge. I have seen lots of posts on social media from students who are in private rentals and are going home so feel they should not have to pay. I do have some sympathy with them in a time of crisis but can also see the LLs point of view.
    JPKeats - our local uni is insisting students go home unless they have nowhere else to go. As for endangering families, my son self isolated to be sure he was virus free before coming back. There are ways around everything. The issue of student rents will be a huge one across the country.
    Most unis are teaching the Summer term remotely now.
    JKO - yes loans are paid in 3 tranches.

    Leave a comment:


  • JK0
    replied
    Do students receive their loans in termly instalments, like we used to with grants?

    Leave a comment:


  • Claymore
    replied
    My son is at Uni but I retrieved him last week! He is in his first year and is in the Uni Halls of Residence. Today, we got an email asking to confirm by 30th March if he was going to return or if he had permanently left. Those students not returning have been released from their contracts. Therefore, he will not have to pay his third quarter.

    I guess as a private landlord you are going to have to make a decision. Under contract law, they have broken their contract, so do you chase them or not - or maybe negotiate a reduction?

    Could you re-let the rooms on short contracts, protecting yourself for the September in-take?

    Incidentally, for my son's accommodation in September, I had to stand as guarantor for the rent. All of my friends have also had to stand as guarantor for their offspring.


    Leave a comment:


  • theartfullodger
    replied
    IANAL but I'd simply suggest contract says monthly, verbal (only, witnessed) agreement to pay every 4-months.

    My agent also prefers to write 4-monthly (!!)

    Do you use an agent?

    Leave a comment:


  • boomboom
    replied
    theartfullodger,

    Thank you for that information - it is very much appreciated.

    in terms of the rent point, I am always learning and thankful of your comments. What would you suggest rent payment wise (quarterly?).

    Leave a comment:


  • theartfullodger
    replied
    Just been emailed by my excellent lettings agent stating re rent payments, ...
    Ultimately we are saying, as are local Uni name (Near Windsor), unless there is a change in government legislation, rent continues to be due as per the terms of their contract.

    We will keep you posted
    ... Re
    They actually pay 3 times a year - so covering 4 months.
    Understand the logic of that payment pattern but a very bad idea. Why? Well, can't use s8g8 mandatory grounds for rent arrears. See
    http://www.legislation.gov.uk/ukpga/...ading/ground-8
    - There is no mention of 4-monthly payments (or 5day payments, or 4weekly come to that..) for arrears in s8.

    Amazing how many "gurus" and agents seem unaware of that. Not to mention solicitors and some judges....

    Leave a comment:


  • JK0
    replied
    Originally posted by boomboom View Post

    They actually pay 3 times a year - so covering 4 months. I wrote it wrong. I have never had an issue in over 10 years with the rents being charged like that in respect of illness, drop outs etc.
    Oh, well, you live & learn, don't you?

    I believe it is normal to ask for 12 months up front. If they chose not to pay final instalment, your only option is to sue. (Forget that though, as judge will find against you.)

    Leave a comment:


  • boomboom
    replied
    Originally posted by JK0 View Post
    When does the tenancy run to?

    FTA: Who allows quarterly rent payments for a student house? You might have known one or two would drop out, fall ill, etc.
    They actually pay 3 times a year - so covering 4 months. I wrote it wrong. I have never had an issue in over 10 years with the rents being charged like that in respect of illness, drop outs etc.

    the tenancy runs 1 aug to 31 july

    Leave a comment:


  • jpkeates
    replied
    If the tenancy has a fixed term, rent is due until the end of the fixed term (along with utilities and council tax- if applicable).
    Even if they're not living there, they can't simply stop paying rent.

    Although it's none of my business, they're probably endangering their families.
    The idea of a lockdown is to stop people from infecting each other and if they do, keeping it within the same group.

    Leave a comment:


  • JK0
    replied
    When does the tenancy run to?

    FTA: Who allows quarterly rent payments for a student house? You might have known one or two would drop out, fall ill, etc.

    Leave a comment:


  • boomboom
    started a topic Student Property & Coronavirus

    Student Property & Coronavirus

    Hi guys

    Hope that you are all well and in good health. Tough times ahead but I am sure we will get through it.

    I have a question which I am sure will be a common theme going forward but it would be great to get people's views on.

    I have a student property where a couple of the students have indicated that they will be going back to their family home and expect the rest to do the same. The next quarterly rent is due soon and from the indications I have been given, it is unlikely that they are going to pay it or they say they might not be in a position to pay it. The students might not even come back to the property if there are issues with going into universities.

    What is the position from a rent perspective in the above scenario? Parental Guarantors are in place but can they just say they are not paying the rent as they won't be at the property anymore?

    I just need to know what the legal position might be?

    I don't mind given them a few months to pay the rent due but I fear they will say they haven't lived there, so shouldn't have to pay the rent.

    any thoughts, comments and guidance will be gratefully received.

Latest Activity

Collapse

Working...
X