Extension to rental discount – Unite
Unite Students, the UK’s leading owner, manager and developer of student accommodation, today announces an extension to its 50% rent discount for students, originally announced on 11 January. This takes the total discount period to seven weeks, in light of the Government’s continuation of the UK’s lockdown restrictions to 8 March 2021.
All eligible students who applied for the four-week 50% rent discount will now receive the additional three-week 50% discount automatically. In addition, eligible students will be given a 4-week complimentary extension of their tenancy agreement at the end of the academic year to extend their stay into the summer. The rental discount and tenancy extension will be available to all students checked-in but not living in their accommodation between 18 January and 7 March 2021. Approximately half of checked-in students have now returned to our buildings.
The loss of rental income associated with the additional three-week rental discount is up to £6 million, equivalent to 1.5 pence of EPRA EPS for the 2021 financial year. This further three-week extension results in a total cost for the seven-week rental discount and tenancy extension of up to £15 million or 4 pence …