Chelsea lettings expert, Patrick Bullick of Stanley Property, has alerted the Dame to a serious flaw in this inept government’s non-thinking.
Keen to garner the student vote, it decided students could leave their rentals after just two months. In effect, should they decide to go backpacking on the spur of the moment, they could up sticks, giving the poor landlord just two months’ notice and leaving him with a huge loss of planned rental income.
You might suggest the landlord take the rent up front for twelve months. That won’t help; the student will take the landlord to court.
Patrick points out that many of his clients are now refusing to take student tenants, preferring the guaranteed rental stream of the traditional tenant.
With so many central London universities desperate for student accommodation, this ill-thought through measure will further strangle supply.
Another disastrous effect will be that foreign students choose to attend US and possibly European universities, which will mean the UK will lose out on the goodwill and future trade with the countries of those students.
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