Sinn Féin spokesperson on Further and Higher Education, Research, Innovation and Science, Mairéad Farrell TD, has today said that the requirement for students to stay 51 weeks in certain investment fund-owned student accommodation spells more bad news for hard pressed student renters.
 
Teachta Farrell said:
 
“For students living in purpose-built campus accommodation the duration of their stay is naturally tied to the academic year, which is generally 39 weeks. When this is finished, they will return home.
 
“However, for the purpose-built accommodation that is being delivered by certain vulture fund providers, some have now begun attached conditions where they must stay the equivalent of 12 months.
 
“This means that students, or their parents, will have to pay for an additional three months despite often not needing the accommodation for this period.
 
“Some of these providers have rents starting off at more than €1,000 a month.
 
“By requiring students to stay an addition 12 weeks can cost around €3,000.
 
“There are significant questions about the legalities of these investment funds doing such a thing, and whether its is compliant with  the planning permission they received, and whether permission for a change of use may be required.
 
“Minister Harris is aware of this problem.
 
“It remains to be seen if he will do something about it.
 
“If we had some action rather than just an endless stream of ‘announcements’ I’ll be the first to credit him.”