Foxtons says new renters’ rights are prompting a noticeable rise in students ending tenancies earlier than expected, particularly those on fixed-term agreements. The estate agency chain attributes the change to the end of fixed-term tenancies, saying it has affected the timing of when rental income would have been received. Foxtons estimates the policy shift has removed roughly £3 million from expected revenues. Several students, according to Foxtons, are choosing to leave their properties sooner than planned amid the regulatory changes affecting how fixed-term tenancies operate. The reports describe this as creating a “flurry” of end-of-contract decisions among student renters, which in turn alters forecasting for rental-related income for the agency. While the coverage focuses on Foxtons’ revenue estimate and the immediate tenant behavior it reports, it centers on the same underlying issue: renters’ rights changes are reducing the predictability of fixed-term occupancy and affecting tenancy turnover rates.
Foxtons says new renters’ rights lead to students ending fixed-term tenancies
Foxtons says new renters’ rights are prompting a noticeable rise in students ending tenancies earlier than expected, particularly those on fixed-term agreements. The estate agency chain attributes the...
- Foxtons says renters’ rights changes are leading to more early tenancy endings among students.
- The company links the movement to changes affecting fixed-term tenancies.
- Foxtons reports an estimated loss of about £3 million in expected revenues.
- The reports describe a rise in the number of students ending tenancies sooner than planned.
- The coverage is based on Foxtons’ statement about rental income and tenant behavior.
The estate agency chain said the end of fixed-term tenancies knocked off some £3 million of expected revenues.
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