YES: Richard Godwin, Lettings manager of Martin & Co, Oxford

Oxford Mail:

IT must be clear that Martin & Co, Oxford have not set the precedent with this approach, but we advocate it strongly with two considerations.

The first is our client. The wealth of options available to landlords when choosing a letting agent in Oxford means they look for the best service and advice available.

The student marketing window is very specific at present with limited time for landlords to secure tenants, existing or new, for the following academic term at optimum rent levels. The sensitive nature of this cycle means it is very much a ‘snooze and lose’ situation.

For us agents the choice is a simple one – let them early or lose them to other agencies that think quicker than you do.

This is not only a landlord-driven initiative or solely through fear of agents losing their landlords to other agencies.

It is our duty to advise our clients as to what is best for them and their property. We work with what experience tells us and there is no getting away from one simple fact: the student demand is firmly out there, even in late October.

For example we had lost three properties within the first week of our student launch to landlords who had let the property themselves or through another agent. The interest into later October continues to grow at a considerable rate.

Some would say freshers view property under pressure, I don’t accept this. Advertising plays its part, but applies no direct pressure to students and agents are certainly not frog marching students to have them sign tenancy agreements.

The students come to us so it leaves me wondering where this so-called pressure is coming from.

The student unions are very proactive in speaking with first years to ensure no rash decisions are taken and they are all fully informed as to the choices they have.

Also, even if the ethos were to shift into later marketing periods the renewal conversation would still be an early one. Existing tenants must be the first thought and have to be considered prior to marketing.

Our approach is fair and considered. We give time for a decision to be taken, we then set agreed timeframes for returned renewal documents and associated fees. An early renewal in this format and executed in the right way ensures both a satisfied landlord and tenant for another fixed term.

 

NO: Andrew Pederson, President of Oxford Brookes Student Union

Oxford Mail:

As a Students’ Union, we support our members – Brookes students – to have the best possible experience while studying at Oxford Brookes University.

It is clear to us that housing is an area where the experience could be improved.

One of the biggest complaints we are dealing with at the moment is the pressure that students are coming under from landlords and letting agents already to renew contracts for next year.

We understand that housing is a challenge for the city, and that demand outstrips supply. We also understand the desire for landlords to have their tenancies sorted long in advance, to minimise the risk that they won’t find tenants.

However, the current system, particularly the timescales involved, poses a number of potential drawbacks for students. We are determined to provide support to ensure that they don’t fall foul of the risks that signing so early can present.

So, what are these risks?

With the academic year having started only last month, many students don’t yet know what accommodation they will need for next year – most won’t have yet submitted any work, or made decisions on their module choices for the next year. First-year students are still getting to know the university and most won’t yet know which other students they are likely to want to share a house with next year.

Academic, health, financial or other issues can all result in a student taking time away from university, or even leaving altogether.

Students having to take on joint tenancy agreements can result in their becoming liable for another student’s rent. The pressure to sign up early both increases the likelihood of these issues arising, as well as often forcing students to take on these risks with students that they barely know.

We had a positive meeting with letting agent Martin & Co last week, and are now hoping to organise a meeting with all key agents in the city.

We are interested in working proactively to find a way forward that delivers better housing and a fairer system that works for all. Ideally a system where students, letting agents and landlords all take a fairer share of the risks involved.

We do recognise that signing an early tenancy agreement may suit some students. We want to raise awareness that any contract students enter into is a legally binding one and ensure they are fully informed about what the contract will mean for them.

Basically, we want our students to have all the information they need up front, so they are empowered to make the decision that is right for them.

 

 

 

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