Posted in Industry News Professional Lettings Student Lettings
Although there has been a lot of uncertainty around Brexit this year, this has had little effect on the student market in the UK. In fact, with the cap lifted on available university places, this means demand for student accommodation is greater than ever.
However, the lettings industry is entering one of its most challenging periods to date with what is probably the most controversial decision made by the government since the introduction of the assured shorthold tenancy in 1989. I am of course referring to the current government’s decision to ban tenant fees.
Please be under no misunderstandings, all three major parties had this legislation in their manifestos, so this is going to happen whether we like it or not. Unfortunately, the fact that the only overall loser in this law will be the tenant, has been lost by all parties which we as a company believe is very sad indeed.
However, the present government have already begun the process with the Westminster Hall debate on the 6th September 2017. Originally it was planned to be introduced in June 2018 which would have decimated the student market throughout the UK and fortunately, the latest information that we have from communicating with MP’s and ministers in government is that the earliest we will see the bill enacted is October 2018 and most still see that as optimistic.
Acorn as a company at the forefront of the market has been working tirelessly to ensure we are in the best place to advise and look after our landlords. To that aim, we have already been in talks with, and written to MP’s and the House Of Commons and started to partner with specialist organisations and developed various initiatives in readiness for this law to come into effect.
We are pleased to announce that due to the delay in timings (due to many different factors and circumstances, not least Brexit), this law should not impact on the 2018/19 Student season which starts in November 2017 and continues to September 2018, so our normal terms will remain and we will continue to keep you abreast of the situations as more information becomes available and we are able to tailor our offering to our landlords accordingly.
If you want any further information, please just contact John Henderson at our Durham Office on 0191 212 6970.Back to News