The move comes following the Government’s latest lockdown announcement
Britain’s largest student housing provider is to cut some of its tenants’ rent by half. In an announcement Monday, Bristol-based Unite Students, has told the market of its plans to offer a 50 per cent rent discount for eligible students for a four-week period, beginning mid-January.
It has some 76,000 students on its books across the UK.
The company, whose headquarters is in Temple Back, is also offering eligible students the option of remaining in their accommodation for a further four weeks at the end of their tenancy, free of charge.
The move, which is likely to cost the business millions, comes following the Government’s latest lockdown announcement on January 4 and its subsequent guidance for students who had returned to their family homes for Christmas to remain there, and not return to their university accommodation.
The advice provoked widespread criticism from students, who called for landlords and universities to forgo or reduce their rent payments while the pandemic continued to keep them away from campus. Many began withholding their rent as a consequence. The company’s properties remained open throughout Christmas and New Year.
Although Unite Students is not contractually obliged to provide any discount, they feel it is the right thing to do, a source close to the company told Bristol Live. They recognise that this is a challenging time for all students following the Government’s announcement of the recent lockdown. They also recognise that students have been asked by Government to stay at home. Throughout the pandemic, Unite Students’ absolute priority has been its students and their staff. This discount builds on that previous extensive support.
Students in Unite accommodation will need to apply for the discount, and must meet certain criteria in order to be eligible, namely that they will not have returned to the property to live in the period from January 18, 2021, to February 14, 2021, and that they are up to date with their rent payments.
The articles are for information purposes only and Invest for Property shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.
Invest for Property does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.
Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.