As the Renters’ Rights Bill continues its progression through Parliament, with the anticipation that it will become law this spring, UK rental services provider Housing Hand has announced an innovative solution to support landlords who rent properties to students and are not classified as PBSA.

A-VoidTM has been designed to help student landlords cope with the potential void periods that the Bill will introduce. It will be provided at no extra costs to landlords or tenants – the cover will be included in the Housing Hand guarantor service that tenants take out when they rent a home. Those classified as PBSA under the new Act are expected to exempt.

“We understand that landlords are concerned about student void periods, which have the potential to turn managing student rental properties into something that is no longer viable. With our robust guarantor product, for which we have maintained a 100% payout record for all valid claims, we are delighted to be extending this new service to our customers to help navigate this new situation.”
Graham Hayward, Managing Director, Housing Hand
The issue for landlords who rent homes to students is that their tenants can now rent their property ready for the start of the academic year, then give notice two months before the end of their summer term. This would leave student landlords with a property sitting empty for two to three months over the summer break.

Housing Hand’s void service cover is designed to counter this problem. If a tenant has an agreement with Housing Hand and gives notice to terminate their tenancy so that it expires before 12 months have elapsed, Housing Hand will cover up to three months’ rent at 50% of the value to support the landlord. The service is provided at no extra cost to either landlord or tenant.

“The rental sector needs solutions that will help smooth the implementation of the proposed Renters’ Rights Bill and mitigate the changing risks resulting from it. This step-change in legislation is going to have an impact at multiple levels of the rental sector. We will be working with tenants and landlords to ensure they can navigate that impact with minimal issues, providing them with security and peace of mind.”

James Maguire, Sales and Business Development Director, Housing Hand