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Unite Further Extends Rental Discount

Posted by Richard Ward in

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Unite Students has extended its 50% rent reduction for an additional three weeks.

The total discount period now equates to 10 weeks, up to the end of the UK government's stay at home rule on March 29.

The rental discount and complimentary tenancy extension will be available to students not living in their accommodation between January 18 and March 28.

The company said that around 60% of checked-in students have now returned to their accommodation and assuming government policy does not change, it will be the final rental discount related to Covid-19.

The rental discount uptake and occupancy of its buildings are expected to result in a reduction in rental income of up to £10 million, equivalent to 2.5 pence of EPRA EPS for the 2021 financial year.

Commenting on the announcement, Richard Smith, Unite Students chief executive officer, said: "Since the outbreak of Covid-19, we have strived to play our part and do the right thing for our students in a fair and proportionate way. We also know from our own survey of students that the majority want to return and enjoy University life. This final rent discount means we will have provided a total of 10-weeks of financial support while students were asked to stay at home by the government. This comes on top of the waiver of rent for the third term of the 2019/20 academic year during the first national lockdown, when we were the first provider of PBSA to offer this."