Students Call For The End Of 'Landlord Exploitation'
The National Union of Students is calling for an enquiry into the way landlords and agents are letting homes to students after a survey found many have adopted 'unfair practices'.
The organisation says it's also wrong that students are made to pay large deposits or fees and sign contracts that are up to nine or 10 months before they need to move into a rented house.
The NUS says the Competition and Markets Authority (CMA) should investigate to see if landlords are carrying out unfair practices.
They also say that many letting agents and landlords are exploiting students because they know they are only temporary tenants.
Providing housing advice and help to students
In addition, the union says that universities should be doing more in providing housing advice and help to students to protect them from being exploited by agents and landlords.
In a report published by the NUS, they say that many students living in rented houses are suffering from condensation, rotten woodwork and mould on ceilings and walls.
A spokeswoman said: "Student housing is often at the rental market's lowest end and agents and landlords capitalise on students' naivete as first-time renters and their resilience to make a home for themselves."
A spokesman for the CMA said: "The report highlights some important issues which we will consider carefully before deciding whether to take action. We've made our expectations clear already to agents and landlords on how they should comply with consumer protection laws."
Buy to let has a 'lacklustre' future
Meanwhile, the Intermediary Mortgage Lenders' Association (IMLA) says that the UK's buy to let sector is facing a 'lacklustre' future.
Their latest report says that BTL landlords will have a tough couple of years ahead as growing numbers feel the effect of regulatory changes introduced in 2015.
The organisation says that gross buy to let lending will drop by 6% this year to £36 billion and £35 billion next year.
Landlords will buy 59,000 rental properties
This means that landlords will buy 59,000 rental properties over the next 12 months, down from 2018's figure of 66,000.
IMLA's executive director, Kate Davis, said: "Since 2010, there's been a robust recovery in lending volumes and low unemployment and steady inflation underpins the mortgage and housing markets in 2019 and 2020."
The organisation says that whilst the mortgage market will remain largely flat over the next few years, lending via intermediaries will continue growing as more borrowers are looking to find expert advice so they can navigate what is becoming a tough mortgage lending market.