Reletting a Uni room

[Alainlechat]

I previously posted here when my DD quit her uni course.

Daughter has quit www.mumsnet.com/Talk/higher_education/4945404-daughter-has-quit

The uni accommodation said we had to try to find a student to take over the rental and that they would also post the room as vacant as they had a January intake.

Despite referring numerous students to the accommodation the room has not been relet either to a referral or student from the Jan intake.

Despite the accommodation being used by multiple unis my DDs room is allocated to a particular uni so it can't be let to a student from the other uni, even though we had an enquiry.

Another student enquired could they pay monthly rather than termly but that was refused.

Frustratingly despite it looking like we should have been able to relet we haven't been able to so far and I find myself as a guarantor for the full amount (although DD will be contributing).

I had tried to contact the uni accommodation to see if there was anything else we could be doing as honestly the communication from them has been poor but of course as the rental contract is with my daughter they will not speak to me.

I guess this is a last gasp attempt for any advice or ideas that would help us relet the room before I apply for a loan to pay the rental for next term. (As they only accept the whole payment by bank transfer with no option to pay in instalments or by credit card).

I wonder if the student who wanted to pay monthly could afford it if you paid for half of the first term for them? It would be cheaper for you than the whole term. There's probably no way to set that up, though.

@Alainlechat You might not like this idea, but here goes! You pay the rent as required and get the student who wanted to pay monthly to pay you back by standing order. You obviously need to trust them but you are going to have to pay anyway! Students get money termly and rent payments mirror this. I would wonder why a student was paying monthly. Are they working too? I would contact them with a proposal.

@TizerorFizz I did suggest this to DD but she was nervous as there was no guarantee the student would pay and how would we ask them to leave with no contract?

Also we'd need permission off the accommodation and I have to say they seem to have been pretty inflexible so far.

To say I am stressed out about this is an understatement. I feel the accommodation provider knows we are liable to pay whatever happens so no incentive to make this any easier for us.

@Alainlechat Of course you are right. Could DD not continue until the end of the year? Is this y1? I’m not up to speed on your dilemma. However DD needs to understand contracts and what they mean. I can well believe this is stressful. Can she change degree?

Have you advertised it everywhere? My dd did - in FB groups and group chats etc, and we had a few people wanting to take over the contract.

No she has left already, in November.

The accommodation said we'd be unlikely to relet for December but there was a new intake of students in Jan and it was possible then. We are trying to find out if the accommodation passed on this information to the uni as they said they would.

To be honest my Dd could not continue, she was quite distressed with the whole situation there and after a lengthy meeting with the uni it was agreed the best option would be to leave. Speaking to her since she got back she didn't see any other option and I was loathed to insist/encourage her to stay when she was so unhappy.

Have you tried listing on Spareroom? There are often overseas students looking on there doing a semester abroad.You can indicate that it must be a student

@mushroom3 yes it has been advertised on spare room and my daughter has put forward several enquiries to the accommodation. One girl was from the wrong uni so didn't qualify and the other wanted to pay monthly.

Of course the accommodation hadn't linked any of the enquiries to my daughter so we confirmed the names of those who had enquired back to them and they said someone had started an application but hadn't completed it. (yet)

Is it university owned accommodation or private?

It's a private accommodation blocks that are only rented to students. So linked contractually to the uni but not owned by them. The uni doesn't own any of the accommodation as far as I am aware.

Have you thought about a private sub-let contract to one of the students (monthly payer or other University). As the main contract will still be with your DD it shouldn't matter which uni they go to as long as they are students. Timing is very tight as Semester 2 starts later this month

We're open to all suggestions, even thought about offering the room at a lower rent and subsidising the new tenant.

It is tight for a relet but it has been advertised since the end of November and it was meant to be offered as available to the new intake but it doesn't seem like that ever happened.

The accommodation and the uni are now speaking to find out what happened.

Looking for advice from anyone who has bought a property in order to rent out to students - in Scotland. My son is in his first year at university, we are thinking to buy a property in Edinburgh to rent out to him and 3 friends but I feel it may be more hassle than it's worth? DD will follow in a year so makes sense to own a property instead of paying 2 rentals - thoughts?

Not to rent to students specifically but it turned out that students favour it because of its location near Edinburgh uni.
Presumably you’ve crunched the numbers and are not deterred by higher interest rates. Consider how it will be managed. You’ll probably need guarantors for each student and if they are from overseas you may wish to ask for 6 months in advance (think you’re limited to the amount of advance rent you can demand).
Lots to consider including your tax position in order to determine if it’s worth it.

Worth remembering that most Scottish leases are open ended so if you want to switch in your youngest then you need a tenant to leave willingly. Friend bought for her kids in Glasgow but youngest didn't get a place (however worked out okay rental wise).

Ed uni have their own estate agency domus so might be worth seeing what they offer to save your some work as a landlord. Accommodation is short supply atm but Edinburgh uni building a huge complex so check how that might affect private rental (probably not).

You pay tax on rental profit. Are you buying outright or with a mortgage? What’s the long term plan? Also CGT might be payable when you sell. Student property takes a lot of maintenance. Are you available to get maintenance sorted? Are you sure it’s worth it?

Yeh, I'm not sure it's worth it or not, just trying to weigh it all up. I'll essentially be paying for 8 years worth of rent (2 dcs at uni for 4 years each) , seems a better idea to put that towards a mortgage however, lots of pitfalls in the way 🤔