One in five landlords (19 per cent) say that rent arrears among students have increased this academic year when compared to last year, according to research from my|deposits.

However, the statistics do not seem to be putting landlords off letting to this particular market, as seven in ten (70 per cent) say they are optimistic about the future investment prospects for student lets.

All in all, about a quarter of landlords have property that they let to students.

The research, which shows that it takes an average of 18 days to repay outstanding rent, indicates the reasons for students falling into arrears are primarily down to mismanagement of funds (69 per cent) and increases in student fees (19 per cent).

And with the latter likely to have even further impact over the coming years, this could be an area of growing concern for landlords.

Eddie Hooker, CEO my|deposits said:

“It’s encouraging to see that landlords remain positive about the future investment prospects for the student lettings market.

“However, with planned increases to tuition fees just around the corner and tough times ahead for many students, it’s a concern for all that rent arrears seem to be on the rise”

With the new academic year just over a month away, the National Landlords Association is reminding landlords to focus on getting their tenancies in shape for the next wave of student lets.

Carolyn Uphill, NLA Director and University landlord commented:

“How landlords manage the start of a tenancy can have a real impact on their tenants’ customer experience and their business as a whole so the check in meeting is a vital part of this process.

“It is important that all members of the group attend the check-in meeting if possible and that landlords are contactable for any early questions or problems, as this will save a lot of hassle in the long term and help to avoid a dispute occurring at the end of the tenancy.”

my|deposits has developed helpful guidance for landlords containing advice on conducting meetings at check in and check out, available from the my|deposits website - www.mydeposits.co.uk  

For more information about my|deposits, visit www.mydeposits.co.uk or call 0844 980 0290.

-ENDS-

For further information, please contact:

Sam Haidar

Senior Press Officer

my|deposits

E: sam.haidar@mydeposits.co.uk

T: 020 7840 8925

M: 07508 031 084

NOTES TO EDITORS:

About my|deposits:

1. my|deposits is the trading name of Tenancy Deposit Solutions Limited, a company jointly owned by the National Landlords Association and HFIS plc T/A Hamilton Fraser Insurance (the Scheme Administrator) to deliver an insurance-backed tenancy deposit protection scheme under contract from Communities & Local Government.
2. my|deposits aims to support landlords and agents to comply with the legislation and provide everyone with the confidence that deposit money is held securely for the duration of the tenancy.
3.  Landlords and letting agents wishing to use this scheme are required to register with the Scheme Administrator. They can find out more and register by visiting www.mydeposits.co.uk. 
4. Registered members of the Scheme are able to protect and unprotect deposits at the beginning and end of tenancies. Fees are tax-deductible. 
5. In the event of a dispute at the end of the tenancy agreement, both parties are offered access to alternative dispute resolution (ADR). This procedure will be evidence-based, relying on documentation and records.
6. Tenancy Deposit Protection (TDP) was introduced in April 2007 by the Housing Act 2004 as part of a package of measures to raise standards in the private rented sector.