Student landlords concerned about prospect of fast-track degrees

Student landlords are concerned that fast-track two-year degrees could have an impact on their rental businesses.

This is according to StudentTenant.com, which says that landlords could be affected by a higher turnover of tenants and increased lettings costs due to the need for more frequent advertising.

Last month, universities minister Jo Johnson announced the government's plans to introduce a fast-track two-year degree.

The proposal is designed to cater for students looking to cut down on living and accommodation costs while studying.

To make up study time, students who opt for the fast-track scheme will work more intensely throughout the year and will take much shorter breaks.

Fast-track degrees are currently offered by a small number of universities across the country.

StudentTenant.com says that students opting for shorter courses could cut living and accommodation costs by up to a third, something which could have a negative impact on the student landlord and letting agent community.

“Naturally, landlords are worried about the impending changes and uncertainty surrounding how it will impact their rental property,” says Danielle Cullen, managing director of StudentTenant.com.  

“There’s quite a grey area when it comes to how fast-track degrees will impact the student rental market, and it seems that government haven’t really considered how it will affect landlords.”

She says that if students are studying for a year less and subsequently renting for a shorter period of time, landlords will be required to advertise their properties more frequently, spending additional funds on lettings fees and guarantor checks.

“I’m not really sure whether the scheme will actually financially benefit students whilst they’re studying,” says Cullen.

“The accelerated degree scheme would mean that students would have to work harder to squeeze in contact hours at university and studying, which would leave little time to get a part-time job to cover the difference in student loans and living costs.” 

“Who is going to cover the difference in loans and living costs? We already know the government won’t.”