We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Student accommodation

Options
My daughter recently had to withdraw from university after one term. She was living away in purpose built privately owned student accommodation
The contract ties her into the rental agreement until either we or the company finds another tenant therefore she is currently paying rent but she has vacated the property. This could be nearly £4k to the end of the year. The company is in no rush to find a new tenant, we have advertised but its not a good time.
I am aware that we have signed up to this agreement (there was little choice) but the question is are these types of contracts legal or moral. These are private property developers making loads of money out of students and taking little risk. If i moved out of a rented house i wouldn't expect to pay for it until the landlord found a new tenant.
Anyone else in this situation, any advice ?? Thanks

Comments

  • unforeseen
    unforeseen Posts: 7,315 Forumite
    First Anniversary Name Dropper First Post
    Options
    are these types of contracts legal or moral. 
    Legal - yes
    Moral? Why not
    There is a contract in place that was agreed between the parties. 
    TBH the company are going beyond what they need to by trying to find another tenant, no matter how poorly they are doing. 
    You/your daughter want to break the contract therefore the onus is on you/your daughter to take the necessary action to ensure the other side is not out of pocket. 

  • sheramber
    sheramber Posts: 19,779 Forumite
    First Anniversary I've been Money Tipped! First Post Name Dropper
    Options
    If you had signed up to a 10/ 12 month contract then you would be in the same position as your daughter.
  • Spendless
    Spendless Posts: 24,235 Forumite
    Name Dropper First Post First Anniversary
    Options
    This is quite usual in terms of paying for the full rental term unless another tenant can be found. Unfortunately there's currently plenty of student accommodation being paid for and not used since Boris told students they shouldn't return back to their student digs after the Christmas hols, and many courses are currently online only so can be done from anywhere, so I think the chances of another student coming forward wanting somewhere to stay is minimal
  • RMF
    RMF Posts: 3 Newbie
    First Post
    Options
    Thanks for the comments, not what i wanted to hear but what i expected i think
    Fortunately we can afford to cover it if required but lots of people cant
Meet your Ambassadors

Categories

  • All Categories
  • 344.7K Banking & Borrowing
  • 250.6K Reduce Debt & Boost Income
  • 450.4K Spending & Discounts
  • 236.9K Work, Benefits & Business
  • 610.7K Mortgages, Homes & Bills
  • 173.8K Life & Family
  • 249.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards