loc8me, a national student lettings provider with a presence in 14 university towns and cities, has said that this year was particularly busy – with the company exchanging keys for over 1,200 properties across just two days.
There were queues down the street across the UK as thousands of students secured their accommodation for another academic year.
The beginning of July is traditionally the busiest time of year for Britain’s student lettings sector, as the month typically marks the changeover period for housing contracts.
“July is usually the start of a long summer holiday for our tenants, but for our team it’s all hands on deck. While students are preparing for a new term ahead, we are taking care of moving out, swapping over and moving in for more than 7,500 bedrooms.”
Raffaele Russo, Founder, loc8me
Additional changeover days are planned for the end of July and the end of August, with keys for hundreds more properties to be exchanged by the beginning of the new academic year in September.
This year’s student changeover comes amid scrutiny over upcoming legislation which is likely to impact the student lettings market. The Renter’s Rights Bill, which will abolish no-fault evictions and fixed-term tenancies, is set to become law later this year.
Critics have argued that it will drive student landlords out of the market, further pushing up rents. Many have also voiced concern over a reported student housing shortage.
“A lot of the conversation is on the availability of supply, when the real issue is the quality of supply. What we’re seeing is a great deal of purpose-built student accommodation (PBSA) which is lying underused because it doesn’t meet students’ needs.
“At loc8me we have a huge focus on quality housing which actually provides what students want, which is why we saw such a demand for our properties this year. We’d like to wish all of our tenants a happy and successful academic year ahead, which they can enjoy in a brilliant place to live.”
Raffaele Russo, Founder, loc8me
loc8me recently celebrated the opening of its latest office in Lincoln, along with an expanded team. Other locations include Loughborough, Nottingham, Manchester, Leeds, Cardiff, Durham, Newcastle, Birmingham, Liverpool, Leicester, Hull, Bath and Bristol.
