Rental guarantor services could unlock the delays in filling purpose-built student accommodation (PBSA) schemes.
Given the continued evolution of the student accommodation market, with many providers diversifying products and seeking to grow market share, being able to reinvest cash faster is no small advantage.
Rental guarantor services enable a more sustainable approach to faster occupancy. They do so by supporting accommodation providers to have a guarantee in their offering, meaning they can accept a wider range of applicants.
Housing Hand is working directly with operators in this position, supporting them towards faster full occupancy by providing guaranteed rent.
“Many operators are finding the current student market a little flat or slower than normal right now in terms of signing up tenancies, given all the uncertainties. These accommodation providers are seeing slower take-up levels than usual, leading many to reconsider how they can reduce their risk and get to full occupancy more rapidly – as the faster they get there, the sooner they can release cash to reinvest.”
Graham Hayward, Managing Director at UK rental guarantor service Housing Hand
The partnership benefits student renters as well, opening up access to a broader range of accommodation options. Housing Hand’s identity verification and accommodation-finding services further speed up the process, cutting out time-draining hassle for all parties.
“In such a dynamic marketplace, we are keen to support accommodation providers with sustainable operating models. It makes for a more stable operations and frees up cashflow faster, which is excellent news for operators seeking to attract investment. Right now, with a lot of investment interest in UK PBSA and BTR investments, and plenty of potential for growth, operators thinking longer-term have plenty to gain but they need to manage the risk, which is where Housing Hand excels.”
James Maguire, Head of Sales and Marketing, Housing Hand
The CBRE reports that the UK is currently facing a shortfall of 580,000 PBSA beds, with robust investment activity across the sector expected to ‘further improve’ in 2024, underpinned by ‘robust operational metrics and the strong return outlook’.
In other developments, in the contractual arrangements for student accommodation, the benefits of an electronic signature integration for student housing contracts has been revealed. Learn how to streamline contract management, enhance staff efficiency, and elevate resident satisfaction with a StarRez e-signature integration.
