STUDENT ACCOMMODATION – GOING DIGITAL
Choosing what university to attend can be a daunting task for students; from deciding what topic to study, to finding what school suits them and their personal or professional goals. If those stressors are paired with the many moving-parts of finding suitable accommodation, the burden can feel overwhelming. MyFairShare is a property-management tool that works to alleviate the headaches that can come with moving house and sharing space; leaving you with more time to enjoy unique moments and make memories.
In Ireland alone, the number of students that entered higher education climbed to record highs in recent years – with around 44,000 new entrants, according to The Irish Times. With so many students relocating and searching for their preferred spaces, MyFairShare’s platform aims to assist with safety, security and efficiency to help those searching find a place to call home.
Amid the uncertainty of COVID-19 regulations and the phasing-in of different sectors around the world, MyFairShare promotes well-being by offering landlords and tenants the ability to view available spaces from the comfort of their own homes. Tenants are able to see photos at their fingertips and even take virtual tours of properties; along with having the ability to review documents and directly contact landlords with individual questions or possible negotiations. Direct communication between landlords and renters avoids the cost of expensive rental agencies and private letters that can incur hefty fees and rates.
MyFairShare makes managing the on-boarding process of a new tenant increasingly efficient by allowing students to apply online with bespoke forms via a scheduling system. It also allows for tenants to pay their rent and utilities via the portal and provides instant access for the landlord to review information. This enables tenancy managers to reassign their time towards creating better experiences for their renters. It also enables tenants to easily submit their references, guarantor documents and other information to make technicalities hassle-free; so more time can be spent on choosing and enjoying your new space.
CATERING TO STUDENT NEEDS
Cushman and Wakefield outline the long-term increase in demand for student accomodation in their 2019 to 2020 UK Student Accommodation Report. It explains that the top five fastest growing universities have increased full-time student numbers by 41% over the last five years, with demand for accommodation rising faster than the production of beds and spaces. With a continuing influx of students and the need for accommodation, the way that landlords and tenants are viewing, negotiating and renting their properties are changing with the times. In a world where immediacy and accessibility is revered, MyFairShare works to make the journey of securing accommodation as simple as possible for tenants and landlords with several easy-to-use features. This leaves students with more time to find roommates, choose classes and enjoy university life to the fullest.
MyFairShare facilitates transparent communication and ensures that all documents, certifications and agreements are accessible for all parties involved. This makes for easy lease terms which can include scheduling electronic inspections to make sure spaces stay tidy and within rental agreements; along with the ability to report any maintenance issues or requests. Landlords and tenants can also establish a payment structure by the month or school semester while handling other important aspects of accomodation rentals – all via the MyFairShare platform.
STEADY LETTING FOR LANDLORDS
Although students are often seen as high- risk tenants to landlords due to financial instability or lack of credit history, student demand has been generally unaffected by economic slowdowns. The stress of having a tenant with unreliable finances can be mitigated by requiring references or a guarantor at the time of the contractual signing – which the majority of student-tenants happily provide and can do through MyFairShare.
Ireland’s Residential Tenancies Board (RTB) implemented legislation changes regarding tenants and landlords in Student Specific Accommodation (SSA). The alteration to the law means that all landlords, tenants and licensees through RTB have rights and responsibilities under the Residential Tenancies (Amendment) Act. Part of these protections include hefty fines implemented by universities if students cause damage to rented properties or breach their contractual agreement. According to the Irish Examiner, students at University College Cork who were found behaving in an “unruly” manner and violated their contracts were subjected to warnings and fines – totaling €11,600 amid efforts to crackdown on antisocial behaviour.
With such high-demand for accommodation, landlords can have steady tenants averaging at least 9 to 12 months if they are found and signed during certain “peak” months, around September when school commences. The summer months, when the majority of students vacate, can be supplemented with short-term leases with international student-renters (who may need to stay in the country to gain residency), by contracting other students who are taking summer classes, or choosing tenants who simply wish to remain at university.
PROPERTY MANAGEMENT MADE EASY
MyFairShare is the go-to property management tool for landlords and tenants alike to share and secure a new space to call home. From keeping contracts, agreements and requests organised and available; to reviewing spaces and information all with the click of a button, our platform aims to make the migraines of moving a pain of the past! Our goal is to leave you with optimum free time to transform your new space into a home.
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