Landlords enhance their offering to foreign workers and international students ahead of Brexit

As Brexit day approaches, some landlords are going out of their way to incorporate an attractive package of benefits into their rental offer in order to attract foreign workers and international students, according to the National Landlords Association.

Related topics:  Landlords
Warren Lewis
27th January 2020
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Landlords have been reporting a falling demand from tenants, and many are pointing the finger at Brexit and the continuing uncertainty surrounding residency rules for EU nationals and funding for international students. Foreign workers and international students have traditionally generated the highest rental yields for landlords – so any decline in their numbers is likely to hit landlords’ rental business.

Most of the pre-Brexit coverage of the rental property business has focused on the likelihood that landlords will be reluctant to take on EU nationals because of tough Right to Rent regulations. This legislation forces landlords to act as quasi border security agents, by carrying out checks as to whether prospective tenants have the right to live in the UK. If they don’t do this, then they could face a £3,000 fine or up to five years in prison.

In fact, some landlords are so keen to attract foreign workers and international students that they are now going above and beyond what might normally be expected in order to appeal to wealthier tenants.

For example:

Providing personal transport to and from the airport by prior arrangement rather than taxis (traveling alone or without an accompanying member of the family can be problematic for some people). In the case of students: accompanying them to the City Council Tax office to obtain student exemption status. Managing/paying utility bills on their behalf (especially when they often have no experience of these matters). Providing a tailored tenant information pack akin to the type of information given to people renting a holiday cottage. This provides them with local guide information: where to shop, where to socialise, where to buy food and eat out. Providing a Christmas gift pack (beverages, chocolate, biscuits). Promising to redecorate the property every two years.

Richard Lambert, CEO of the National Landlords Association, says: 'In a buyer’s market, suppliers have no choice but to find ways to make their offering more attractive. Whether it’s offering super-fibre optic broadband, delivering gift baskets at Christmas, or other religious holidays, or offering to manage all bills associated with the property as part of the tenancy agreement, landlords have plenty of options.

“Ultimately, landlords will be most successful when they have an open dialogue with their tenants and keep in regular contact to ensure they know what they need. A happy tenant is far more likely to ask for a longer tenancy, which is what every landlord hopes for."

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