Only My Share raises concerns over students struggling with rent, as claims rise 300%

Has there ever been a more complex and convoluted time for student renters than the past year? The latest Save the Student survey has revealed some interesting insights into the relationship between students and their accommodation, a year into the pandemic.

One of the most worrying statistics is that 50% of students report struggling with their rent. The financial burden that young people take on for their accommodation while at university has seen 60% report a resulting negative impact on their health in the past year. 45%, meanwhile, say that their studying has been negatively impacted by issues around paying rent.

Save the Student reports that 47% of students borrow money to pay their rent, most notably from parents (27%) and banks (22%). On average, parents contribute £2,288 per year towards student rent.

Rent arrears protection service Only My Share points out that this is a major source of stress for furloughed parents and those who’ve lost their jobs or are facing financial insecurity as a result of the pandemic. The situation is exacerbated by tenancies that include joint and several clauses, under which students are responsible for their housemates’ share of the rent, as well as their own.