22 January 2018
These findings combined with the estimated cost of £2.3 billion per year results in a net benefit to the UK economy of £20.3 billion which is the equivalent of £310 per UK resident.
As a company that specialises in helping international tenants secure rented property by standing as rent guarantor, Housing Hand has seen first hand the change in attitudes when allowing international students to rent.
We have seen landlords, letting agents and other rented accommodation providers realise the potential in the international student housing market rather than the risk. Savvy letting agents and landlords see opportunity in the fact that international students make up 19% of the student market* which is already an established industry segmentation in its own right. The percentage of students from outside the UK increases to 46% of postgraduate students studying and living in the UK.
The paper by the UK Council for International Student Affairs found In 2015/16 the number of international students in the UK came to 438,010 with 127,440 coming from other EU countries and 310,570 coming from outside the EU.
There may be several reasons why accommodation providers have decided to accept international tenants on a more regular basis. One clear reason is the creation of Housing Hand's UK Rent Guarantor Service. When Housing Hand stand as guarantor, letting agents, landlords and accommodation providers of any kind can be sure that the rent is secured as well as cover for dilapidations and eviction costs. They don't have to spend time, money and effort chasing individual guarantors if the tenant does default, and, they benefit from access to an increased section of the renting population with quality leads provided by the Housing Hand Free House Finder Service.
Other reasons could include the EU Citizens Rights Campaign Group bringing the findings of the government equalities office to the attention of the lettings industry, in order to challenge the discrimination against European tenants renting in the UK, or simply the requirement of accommodation providers to adjust to a changing market.
If you want to find out more about how Housing Hand can help either tenant or accommodation provider, please give us a call on (0)207 205 2625.