Direct Lets For our 2015/16 tenancies we piloted a slight variation on our Student Homes scheme model. Currently there are 7 Institutions participating in the scheme and ordinarily each property will be assigned to the students of one specific College. We wanted to be able to offer our Student Homes accommodation to a broader range of University of London students. By introducing a â€˜Direct Letâ€™ option we are able to offer our head lease properties to all students attending University of London Colleges and Institutions. The federation consists of 18 Colleges and 9 specialist Institutes with a community of over 170,000 students. Unlike our regular model, which involves a specific College acting as guarantor for their students, with our direct let option the University of London acts as guarantor for the student tenants. So there is still a rent guarantee in place for landlords.
What Type of Properties are we Looking for? We are looking for good-quality flats and houses located within London travel zones 1 and 2. A recent student housing survey we carried out confirmed that students want housing within a 30 minute door-to-door commute of their campus. Being within easy reach of their College is an important consideration for students in London. We need properties that can house a minimum of 2 students, with a preference for 3-6 bedroom properties. The reason for us not wanting studio flats and 1 bedroom apartments is that this type of accommodation is generally more expensive per bed space, and we want our Student Homes properties to be affordable for the majority of University of London students. There is also an abundance of studio/serviced apartment accommodation already on offer from private halls providers.
By offering direct lets, we will enable students from an assortment of Colleges to share accommodation together, encouraging a more diverse environment for them.